Munich Re, REpower sign insurance deal for offshore wind turbines

12/4/2012 | Bloomberg Businessweek

Munich Re has agreed to insure REpower Systems turbines at an offshore wind project in Germany against "serial losses," becoming the first insurance group to offer coverage for losses in the offshore wind industry. Munich Re's product is expected to "increase overall investment security and make it easier to finance large offshore wind projects," said Sophia von Waldow, an analyst at Bloomberg New Energy Finance. Munich Re is also developing a product that would cover losses incurred from weather-related delays.

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