kWh Analytics achieved another Solar Revenue Put milestone with a recent claim paid to a leading solar asset owner for a utility-scale project in Texas. This represents the sixth claim; all have been paid in full and within 30 days for the over $3 billion in solar assets insured with the Solar Revenue Put. Notably, the Solar Revenue Put typically insures projects for ten years with an annual settlement, meaning the product has paid out a significant portion of claims in its 34 total completed operating years.
“Our claims track record demonstrates that the Solar Revenue Put works as advertised: it ensures that asset owners can recoup any losses insured by the Put through a quick and easy claims process, insulating their projects from negative financial impacts,” said CEO, Richard Matsui.
This particular asset owner structured the Solar Revenue Put on the project in 2018 to guarantee production for ten years. In Q1 of 2021, the project underperformed its production estimates due to a combination of overly aggressive production estimates and the impacts of Storm Uri. kWh Analytics’ quick claims process allowed the asset owner to issue their quarterly debt service payment. This claim illustrates the Solar Revenue Put’s ability to protect against all risks, including extreme weather, such as wildfires and severe storms.
For additional details on this claim, please contact Sarath Srinivasan, Head of Risk Transfer Products. For more information about our claim track record, download our claims case study here.