Leading the way
Our first sustainable energy instruction was back in the mid-1990s, when we started advising on insurance claims for wave power projects. Our work in the field developed throughout the 2000s, acting for lenders on large scale renewable energy projects and this naturally developed into us offering claims and insurance consultancy for the sector too.
Supporting owner developers, lenders, and contractors
As the sustainable energy sector has evolved, we have evolved. Our insurance consultancy work in carbon capture was born from our oil and gas clients undertaking carbon capture projects, as part of their own environmental, social and governance (ESG) transition.
Alongside insurance advisory for lenders, we now also work with owner developers and contractors in the sustainable energy sector, supporting them throughout their entire insurance decision making process, from project conception, execution and operations, merger and acquisitions and claims.
Read about some of the projects we’ve been involved with belowOur services
Case Studies
ACWA POWER
INDECS has worked with ACWA Power for a number of their project finance deals over the past decade, mainly in the Middle East. The projects cover wide range of sectors, including power generation and water salination projects.
Sectors: Green Energy; Utilities
INDECS has worked with ACWA Power for a large number of their project finance deals over the past decade, mainly in the Middle East. The projects cover wide range of sectors, including power generation and water desalination projects.
A Risk & Insurance Director at ACWA Power said: “The team is professional, pragmatic, customer and solution oriented. We have no hesitation to recommend INDECS as lender’s insurance advisors for an energy project.”
FMO
FMO is the Dutch development bank that offers capital and knowledge to companies, projects and financial institutions in developing countries. INDECS works closely with the FMO in-house insurance team and leads on insurance matters for most transactions.
Sectors: Green Energy; Non-Renewable Energy and Utilities
FMO is the Dutch development bank that offers capital and knowledge to companies, projects and financial institutions in developing countries. INDECS works closely with the FMO in-house insurance team and leads on insurance matters for most transactions.
We represent FMO and partner financial institutions on a large number of power, energy and infrastructure projects worldwide, helping develop robust, bankable insurance protection for the lender group.
FMO said: “The professionalism of the INDECS team is highly valued, and their insurance knowledge, connections and responsiveness are an asset to any project finance transaction. INDECS have been instrumental in finding workable solutions to challenges imposed by local insurance regulations in countries where international lender requirements would otherwise not have been met. These solutions have created market standards which international lenders can use in future transactions.”
Working with brokers
As INDECS are not brokers, we like to form collaborative relationships with appointed brokers for relevant projects. This helps us ensure potential issues are identified early and that workable solutions can be put in place.
Sectors: All
As INDECS are not brokers, we like to form collaborative relationships with appointed brokers for relevant projects. This helps us ensure potential issues are identified early and that workable solutions can be put in place.
Our experience shows that project brokers are much more comfortable working closely with INDECS rather than directly with the client throughout the finance process.
One broker said: “Confronted by an issue in the insurance market which threatened to undermine the financial close of a multi-million-dollar transaction, we received unyielding support from INDECS. They kept the lenders and their lawyers on board while we found a solution. INDECS' pragmatic, commercial attitude and approach was a significant contributory factor to the eventual success of the project.”
International Finance Corporation (IFC)
INDECS has been appointed as the lender’s independent insurance advisor for a number of IFC project finance transactions.
Sectors: Green Energy; Non-Renewable Energy
INDECS has been appointed as the lender’s independent insurance advisor for a number of IFC project finance transactions.
For each one, we work closely with the lenders, ensuring that the insurances are appropriate for the project and in-line with commercial market practice. At the same time, we take into account the commercial context and risk profile of each project.
We then support IFC during the operational phases to make sure the insurance remains compliant and appropriate throughout the term of the loan.
A Senior Investment Officer at IFC said: “I have observed first-hand INDECS’ professionalism and dedication. Their involvement in our projects is a true asset and their support highly valuable. INDECS takes the time to understand the project, review the risks and focus on workable insurance solutions. They have excellent insurance expertise and their connections with major insurance brokers are very valuable.”
Other Sectors
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