German reinsurer Munich Re (MUV2.XE) Wednesday said it has been
jointly appointed to provide risk transfer solution for a
large-scale solar power plant in Morocco.
MAIN FACTS:
-Munich Re and GCube have been appointed by Saudi Arabian power
company ACWA Power to deliver specialist insurance and risk
management services for Noor 1, a 160 megawatt concentrated solar
power project in the city of Ouarzazate.
-The project Noor 1 represents the largest CSP project outside
of North America.
-Munich Re and GCube are jointly leading the Marsh-designed
integrated policy, which not only covers a 28-month construction
period but also 12 months of commercial operation after
completion.
-The start of commercial operation is scheduled for the end of
2015.
-Munich Re and GCube will together provide 50% of the risk
capacity.
-Write to the Frankfurt Bureau at
djnews.frankfurt@dowjones.com
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