Renewable Energy Market Update Q1 2024

Stabilisation is anticipated in 2024 for Solar PV with potential premium rate reductions.

The global renewable energy insurance market is characterised by a complex interplay of challenges and opportunities across Solar PV, Onshore Wind, Offshore Wind, and BESS sectors. The adaptability, resilience, and growth observed in these sectors signal the industry's capacity to navigate uncertainties. Anticipated stabilisation in 2024, coupled with potential premium rate reductions in favorable conditions, reflects a maturing market that continues to evolve in response to technological advancements, changing risk landscapes, and the ever-increasing demand for sustainable energy solutions.


Duncan Gordon

Head of Renewable Energy | Energy, Power & Renewables

+44 7907 978746


Duncan joined Alesco at the beginning of 2018, after seven years specialising in construction and operational insurances within the offshore and onshore renewable energy sectors.

He has direct experience of project finance transactions and ensuring that all insurance conditions precedent to financial close are satisfied. The key elements of this service delivery are efficient communication and the ability to coordinate amongst both the international and local placement teams.

Duncan has wide-ranging experience of renewable energy projects throughout the lifecycle and is a skilled practitioner in providing insurance solutions for large and complex assets and portfolios globally. He currently provides guidance and insurance solutions to clients in North America, the Middle East, Europe, Latin America, Australia and the UK.