Many members are focused on the planning and construction of renewable energy facilities and they are turning to AEGIS for the coverage and services they need.
AEGIS has participated on a number of high-profile projects recently, including FPL’s DeSoto Next Generation Solar Energy Center – the nation’s largest solar photovoltaic plant – which just went online in October. We have also provided coverage for TransCanada’s five Cartier Wind Energy facilities (62% owned), three of which are in commercial operation and two of which are to start construction in the second quarter of 2010. And in the area of geothermal generation, we have provided coverage for CalEnergy’s 10 plants in the Salton Sea Known Geothermal Resource Area, which sell power to Southern California Edison and other parties.
In addition to the projects for these three member companies, we participate on renewable projects for 19 other AEGIS members. As a group, these companies account for more than 30% of all solar capacity and more than 50% of all wind capacity in North America.
Our expertise in the renewable energy sector extends to all emerging power sources and technologies, including wind, solar, geothermal and hydroelectric generation. We provide members with a complete range of insurance products and services that are tailored specifically to the construction and operation of renewable energy facilities. Our property team in New Jersey, for example, offers a single policy with up to a $200 million limit that covers each project from construction through the first year of operation, including time element covers. In addition, excess liability coverage for renewable energy projects is available, with a $35 million limit for operational risks and a $25 million limit for construction risks.
This expertise, combined with our collaborative approach to claims management and our specialized property engineering services, sets AEGIS apart from the commercial market.