Wind Energy
Wind projects are built to operate for decades, but the technology supporting them continues to change. Turbine obsolescence, natural catastrophe exposure, long replacement timelines and contractual obligations can turn a single equipment loss into a larger financial and operational challenge.
HUB’s Renewable Energy specialists help wind developers, owners and operators align property, business interruption, construction and risk management strategies with the equipment they operate, the contracts behind the project and the realities of restoring an asset after a loss.
Stay Ahead of Industry Challenges
When the asset lasts longer than the technology supporting it
Wind risk changes as equipment ages, replacement options narrow and projects move deeper into long-term operation. Understanding what it would actually take to repair or replace critical equipment is central to protecting asset value and revenue.
Older turbine models may become difficult to source or unsupported while the project itself remains financially viable. When damaged equipment cannot be replaced like-for-like, the cost of restoring the asset can extend beyond the original component value into engineering, replacement equipment, transportation and longer periods of downtime.
HUB helps clients review asset values, replacement assumptions, policy wording, critical spares and business interruption periods against the equipment actually operating at the site.
Replacement cost should reflect what it would take to restore the project today, not simply what the original equipment cost.
Insurance values and recovery assumptions aligned more closely with the current repair or replacement reality.
Wind assets can be exposed to lightning, wildfire, wind, flood and other site-specific hazards. A loss can be compounded by difficult site access, specialized repair requirements and long lead times for major components.
HUB considers natural catastrophe exposure, site controls, critical equipment, access, maintenance practices and business interruption together when evaluating the insurance program.
The physical loss is only one part of the exposure. The time and complexity involved in returning the turbine to service can be equally important.
A clearer view of both physical asset risk and the operational consequences of downtime.
Power purchase agreements, O&M agreements, equipment warranties, financing documents and supply contracts can all affect the financial consequences of a wind loss. Responsibility for repairs, warranties, deductibles and lost revenue may sit with different parties.
HUB reviews insurance requirements and contractual risk transfer alongside property and business interruption coverage to help identify where project obligations and available insurance may not align.
The policy, the contractual obligations, the equipment, and the project’s revenue obligations need to be considered together.
Greater clarity around retained risk, contractual responsibility and potential revenue exposure.
Tailored Risk Solutions for Your Industry
Build the program around how the wind asset would recover
Wind projects require more than coverage for the physical turbine. HUB considers equipment replacement, natural catastrophe exposure, business interruption, contracts and long-term operations together to help build protection around both the asset and the revenue it supports.
Property and equipment breakdown coverage can be evaluated against current asset values, major components and realistic replacement timelines. Business interruption assumptions can then reflect the time required to source equipment, complete repairs and return the project to operation.
HUB considers equipment obsolescence, OEM support, warranties, critical spares and supply agreements alongside policy valuation and settlement terms. This helps identify situations where the cost of restoring the asset may differ materially from the value originally insured.
For new builds, repowering and project expansion, builders risk, cargo, delay in start-up and liability requirements can be coordinated with EPC, supply and financing agreements as well as tiered operations so construction protection transitions into the operating program seamlessly.
Industry Insights
Insights for protecting wind assets through long-term operation
