Our "innovation showcase" presents a series of webinars and recorded interviews focused on examples of new and adapted products, structures or transactions which support climate in an innovative way
Our aim is to highlight examples of what is possible across export credit and beyond, the role of our industry within the bigger climate picture, and also help inspire organisations who are just starting this process.
1) PERFORMANCE INSURANCE TO MITIGATE NEW TECHNOLOGY RISK (AXA XL)
AXA XL give an overview of their performance insurance solution and its application to new technology as an enabler for renewable and climate projects
- Defining performance insurance as a mitigant to specific technology risk relating to a new or renewable project
- Conditions to trigger the policy considering when the technology fails to perform; warranty clauses; existing debt service or contingency reserves
- Benefits to the lender to cover the gap in debt obligation, with the length of the policies matched to the term of lending, typically over 5 -15 years
- Benefits to the insured in order to get better interest rate on debt financing, or even achieve financing where they otherwise couldn’t
- Types of technologies covered include green energy related as well as other technologies, with data points availability required from prior testing
- Case study
Presented by Simon Morden and Jiten Halai
Get in touch if you would like to volunteer an example from your organisation, or if you would like to highlight an example from another organisation which you think we should feature in more detail.
The showcase will culminate with a written paper of trend analysis, indicating the overall themes around climate innovation in export credit.
We are currently producing the first webinars in the series - check back later or keep an eye on our news page to stay updated.