Insurance considerations for the tender submission for REIPP Round 6

As the process of preparing for Round 6 submissions continues apace, we felt it would be a good idea to give both our clients and our prospective clients insight into how GIB can assist with the tender process.

We provide a specific service which provides detailed insight into an indicative insurance pricing structure as well as guidance on how the program could be structured. This is an important part of the REIPP process as the more accurate and detailed this part of the tender process is, the more competitive and compelling the tender submission that is presented can be. We are happy to provide this service either in writing or on a one-on-one basis.

GIB focuses on the review of the project from a contractual perspective and we ensure that we make specific reference to the Lender’s requirements. The review is structured around the proposed insurance program, consideration of the broadest and most comprehensive covers, with the widest possible extensions and limits of indemnity per class of insurance. This is done always bearing in mind that a core output of the exercise is to ensure that we achieve the most competitive pricing available in the market. It goes without saying that having access to the GIB team, who have been involved in many of these types of projects, can add real value to the approach you decide to take.

The output of our plan would include the following:

• Presentation of an insurance review report for sign off by the Lenders advisor if required. This includes providing advice for specific provisions for the Lender’s information to be included in the final loan documentation.

• Provision of a supplemental report which further outlines insurance considerations around the project contracts, loan documents, projects plans etc.

• Assistance with negotiation with any parties involved in the project from Owners, EPC parties, Lenders and their specific insurance advisors.

Having the right team who has the experience and ability to focus on your needs timeously during a very busy and complex period. If you need any assistance, please do not hesitate to contact us.

GIB Renewable Energy Team