Insurance and risk management consultancy Invictus Risk Solutions has been engaged by green energy company Sun Pacific to assess the opportunity for providing an insurance wrap for a $50 million funding of the company’s US-based solar manufacturing plant.
If deemed feasible , the deal would be sourced through Lloyds of London, London corporate, and other supporting insurance markets, Invictus and Sun Pacific explained.
The financing is commencing at this time and underwriting analysis of the project will determine feasibility, testing, and other market considerations, they added.
Nicholas Campanella, CEO of Sun Pacific Holding Corp, explained: “As part of our renewable energy platform we move through our underwriting, analysis and feasibility study. We have identified property that will add high value to our platform of becoming a key solution in the solar industry while producing over 1GW of solar panels per year to our customers. This project should make an important contribution for the emerging solar industry in its fast-growing market.”
“The purpose of our engagement is to offer a bespoke suite of insurance products that ‘wrap’ around the proposed investment and project,” added Paul Rowland, Senior Partner of Invictus Risk Solutions.
“Our singular goal is to protect all parties by advancing, amongst others, account receivable, construction, financial, liability, management, and operational elements to enhance and support the security of the proposed project.”
