Leading renewable energy underwriter teams up with emerging market specialist to provide services for 75MW Sidrap Wind Farm, including work at specially-constructed jetty
Indonesia, 20th September 2017 – Modern Energy Management (MEM), a specialist in delivering project lifecycle certainty to renewable energy developers, financiers and investors, is to carry out marine warranty surveying (MWS) services at Indonesia’s first utility-scale wind project, Sidrap Wind Farm, on behalf of GCube Underwriting Ltd. (GCube). Under the terms of the agreement, MEM will provide risk management services related to the offloading of wind turbine generator components for the 75MW wind farm.
As the pace of wind energy development in the emerging markets increases, there is an urgent need for supporting infrastructure to be properly integrated into the supply chain process. Although relatively lowly ranked by the World Bank’s Logistics Performance Index, Indonesia is undertaking significant investment in its ports and harbours in order to better facilitate the import of capital equipment.
Whilst this process takes place, however, wind energy developers require the confidence of a secure and comprehensive marine warranty service to ensure that large parts and components arrive at the project site undamaged and on time.
GCube selected MEM for this work ahead of local survey companies due to the firm’s clean energy specialism and expertise in the emerging Asian renewable energy markets. A key factor in the decision was ensuring the necessary depth of experience to comprehensively assess on-site and logistical risks, and prevent these leading to project delays.
The Sidrap wind farm, located on a series of ridges in Northern South Sulawesi, will consist of 30 Gamesa turbines and is scheduled for completion in January 2018.
The site’s remote and challenging landscape poses unique logistical challenges for the construction team, and will require components to be offloaded at a jetty specially-constructed for the project. MEM will oversee the components’ offloading, before they are transported to the project site itself.
“As Indonesia begins to develop in clean energy, investors need to have the confidence that their projects may be de-risked throughout the development timeline,” said Lars Lund, Director, MEM.
“Deploying wind energy in remote regions requires a full understanding of the project risk profile. Our own development experience informed the survey work we carried out at Sidrap, and will allow us to put procedures in place to best mitigate these risks.”
Charlie Richardson, Senior Underwriter at GCube, commented: “GCube’s specialised expertise in renewable energy underwriting, coupled with MEM’s local knowledge of the Indonesian market, has enabled us to develop a detailed understanding of the risks related to offloading turbine components and transporting them across the country.
“Partnering in this way will ensure comprehensive oversight of what was a technically and logistically challenging element in the Sidrap Wind Farm’s construction, helping the project to realise its full potential.”
About Modern Energy Management
Modern Energy Management (MEM) delivers project lifecycle certainty to renewable energy financiers, developers, operators and investors working in rapidly expanding emerging markets.
The firm’s team of project managers, consultants and engineers enable financiers and investors to successfully develop, construct and deliver complex, profitable projects in remote, rapidly expanding international markets.
MEM established its corporate offices in Thailand in 2013, and has since registered in Singapore to accommodate its growing international project pipeline. MEM is currently managing wind, solar and a number of other renewable energy initiatives in the developing markets of South East and Central Asia, Latin America and Africa.
For more information, please visit: http://modernenergy.co.th/ and http://www.investmentgradeverification.com
About GCube
GCube is the leading provider of insurance services for renewable energy projects in wind, solar, biofuels, wave, hydro and tidal around the globe.
Its specialised focus and robust underwriting authority offers unparalleled marine, property, liability and political risk insurance coverage for all renewable energy risks. With over 25 year’s experience in the renewable energy sector, GCube understands the unique exposures of these power generation projects and assists its clients in identifying, quantifying and mitigating risk efficiently and economically while helping them achieve their business objectives.
To learn more about how we can support your insurance coverage requirements, please visit our website at www.gcube-insurance.com.
