New insurance product to help bioenergy projects

Savills and R K Harrison have announced a new insurance product that it argues will support bioenergy plant operators.

As it stands at the moment, feedstock supply chains are vulnerable to failure and any fuel that is provided to incinerators so they can generate electricity is liable to disruption that can end up reducing the amount of electricity sent out to the National Grid.

While this was previously not something that bioenergy companies could insure themselves against, Savills and R K Harrison have announced it will be the first to enter this sector and provide a product for operators worried about disruption.

Ashley Lilley, associate director of Savills Agribusiness consultancy, commented: “Working with developers, funders and users it is very clear that, in many cases, the perception of feedstock supply chain risk has been holding back expansion.”

However, before any company is approved for the insurance product, they will have to undergo a comprehensive audit to make sure that all issues are addressed before a premium is arranged.

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