Willis Teams with Narec Capital to Boost Renewable Energy Coverage

January 17, 2012

Willis announced a new strategic alliance with clean energy financier Narec Capital, which it said would “unlock fresh opportunities for firms in the renewable energy market to develop and scale up technologies that generate low carbon power from the air, sea and sun.”

The combination of financial and insurance capacity aims to build confidence for would-be investors and developers of renewable technologies “to test and deploy new clean energy solutions that are expected to provide an increasing share of the world’s power in years to come.”

It recognizes that, although clean energy offers both social benefits and business opportunities, it also “presents significant risks and challenges to developers, financiers and insurers.”

Narec Capital and Willis have come together to “tackle these challenges and mitigate the risks of investment in renewable technologies by sharing their complementary insurance and sectoral expertise.”

Narec can provide the financial opportunities by “identifying investors with an appetite for early-stage renewable development and de-risking those opportunities.”

Wills then provides the required insurance services and products for the renewable energy sector, which it described as making a “substantial contribution to the transition to a low carbon, energy-stable society.”

Source: Willis Group Holdings

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