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Renewable energy insurance and finance JV

The UK National and renewable energy centre (Narec) and Ashberg Ltd will develop an insurance and finance proposition for the global renewable energy industry under a memorandum of understanding (MoU).

The joint venture (JV) will focus on accelerating the commercialisation of renewable energy technologies and Narec’s intellectual assets.

The renewable energy JV will build on four areas:

  1. Consulting - to support early stage renewable energy technologies and projects of strategic importance to Narec and the global renewable energy sector;
  2. Corporate Finance - to bridge the equity funding gap and support the global deployment of renewable energy business ventures, utilising existing technology and project financing vehicles;
  3. Fund Management - to support the commercial deployment of renewable energy business start ups – combining a source of capital with the technical expertise afforded by Narec; and
  4. Insurance - to develop a business line around the renewable energy insurance sector through the provision of independent insights into technology and market developments. This will allow risk to be more accurately priced.

Narec and Ashberg will work together over the next 6 months to develop and roll out its full proposition with a first wave of renewable energy projects already identified.

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