Energy Storage: A Cornerstone of Southeast Europe’s Renewable Transition​

As Southeast Europe moves toward renewable energy, Battery Energy Storage Systems (BESS) play a key role in stabilising the power grid. These systems store excess energy during low-demand periods and release it when needed, balancing solar and wind supply. However, energy storage projects come with risks, requiring specialised insurance and risk management solutions.

REIB’s Commitment to Supporting Energy Storage Projects

With over a decade of experience in renewable energy insurance, REIB has been at the forefront of insuring energy storage projects across Southeast Europe. Our tailored insurance products are designed to address the unique risks associated with BESS, including system failures, fire hazards, and operational disruptions. By providing comprehensive coverage, we aim to enhance the bankability and financial viability of energy storage initiatives in the region.

A Strategic Focus on Business Interruption Coverage

A key component of risk management for BESS is Business Interruption (BI) Insurance. Unlike conventional BI policies, REIB offers unique coverage that reflects the operational realities of energy storage. Our solutions account for market fluctuations, performance variability, and extended recovery periods — factors often overlooked in standard BI policies.

Determining the Sum Insured for Business Interruption coverage requires a deep understanding of financial and operational risks. This includes estimating potential revenue losses caused by system failures or external disruptions, calculating ongoing operational expenses that continue even when the system is offline, and assessing the time required to restore normal operations. Our expertise ensures that these critical factors are precisely analysed, allowing investors and developers to secure the most effective coverage for their projects.

Why It Matters

Energy storage isn’t just supporting the energy transition it’s accelerating it. By making clean energy reliable and dispatchable, BESS is turning ambition into action. At REIB, we’re committed to driving this transformation by providing the protection and confidence stakeholders need to move forward.

The full article, originally published by Renewables Now, can be read here.