FM renewable energy launches in EMEA
Commercial property insurer FM announced its insurance policy for renewable energy operation is now available to clients in Europe, the Middle East and Africa, bringing decades of power generation research and engineering expertise to this growing market.
FM’s new offering will help EMEA clients in their transition to alternative energy through research and innovation as well as support the overall advancement of the renewable energy industry. The growth of the renewable energy sector is expected to accelerate in response to climate emission reduction targets, even as the industry faces challenges associated with new technologies and increased vulnerability to loss events, particularly climate-related hazards. The launch of FM’s renewable energy operational policy in EMEA will help FM’s clients navigate this rapidly evolving risk landscape.
Last year FM announced the formation of FM Renewable Energy, which focuses on research, standards development and loss-prevention engineering around utility-scale ground mounted solar, onshore wind power and battery energy storage systems (BESS). For 70 years, FM has served power generators in a variety of energy sectors, including hydropower, biomass and waste-to-energy. FM Renewable Energy helps leaders design, build and operate resilient and reliable energy projects – and protect them over the long term.
Renewable energy projects face a wide range of risks, from windstorms and hail to lightning and equipment breakdown. FM offers a suite of products and services to help protect renewable energy operations, including climate change impact reports, business risk consulting services and research-based data sheets.
“We are thrilled to expand our renewable energy services and solutions to more FM clients around the world. With FM’s research capabilities and engineering-based approach to risk mitigation and protecting our clients’ purpose, we are in a unique position to help our clients in their energy transition and take a leading role in supporting the renewable energy industry as it evolves.” – Doug Patterson, senior vice president, Forest Products and FM Renewable Energy at FM.
