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FOWT 2021 Selected speaker

Wed, 18 Aug 2021 08:44:48 GMT

Commercial Scale Floating Offshore Wind from the Perspective of a Lenders´ Insurance Advisor

Floating Offshore Wind Turbines 2021, 15-18 November in Saint-Malo, France.
https://live.eventtia.com/en/fowt2021event/PROGRAM/

My aim is to provide the general audience with an overview of what parameters a commercial scale FOW project has to address to qualify for non-recourse project finance. In particular, I would like to describe the importance of a coordinated process of the “four pillars” of an FOW project during the Pre-Financial Close phase, i.e. Lenders´ Technical, Legal, Financial and Insurance Advisors and provide solutions on how a commercial scale FOW project could achieve the level of insurance coverage corresponding to Lenders´ expectations, which are generally based on the bottom-fixed insurance coverage requirements, by technical (floater, moorings, anchors), contractual (liability framework), and financial (account reserve) mitigation.

Join us during the Panel: “Higher Risks, Higher Returns?” from 9:30 to 10:45 CET on 17 November and engage in discussion with Barbora Bechnak on the topic of non-recourse financed FOW commercial scale projects from a LIA perspective.

JWE 2021 Brand Sponsor

Sat, 31 Jul 2021 08:30:25 GMT

Skowronnek & Bechnak Japan JWE 2021 Brand Sponsor and speaker

Japan Wind Energy 2021, 12-13 October in Yokohama.
Skowronnek & Bechnak Japan 株式会社 is a Brand Sponsor and a speaker at the JWE 2021.
Ralf Skowronnek will provide insight into the risks related with Offshore Wind facilities deployment in new territories such as Japan, and the additional and increased risks that we are facing. In particular Ralf will address Japan specific aspects of the Offshore Wind risks, how their impact can be mitigated based on the experience gained previously in Europe and Asia and how to optimize Offshore Wind projects parameters to qualify for sustainable insurability at commercially reasonable terms.
Join us during the Panel: “Undertake the Massive Risks of Offshore Wind Farms” from 15:30 to 16:20 JST on 13 October and engage in discussion with Ralf Skowronnek on the topic of Japan Offshore Wind risk allocation and sustainable insurability.

WFO webinar on lightning strikes

Wed, 28 Apr 2021 06:12:04 GMT

Skowronnek & Bechnak seeks solutions for sustainable insurability of lightning strike risks
Lightning strikes can cause high financial losses to offshore wind farms which in some regions are difficult to insure. Our webinar introduces the latest stage of their detection and insurability. To register, please follow the below link:

https://mailchi.mp/01be55c0bc03/may_20

Our Japanese company in EEHH

Wed, 24 Feb 2021 13:39:34 GMT

Skowronnek & Bechnak Japan Co. Ltd. in EEHH newsletter
To read the original article in German, please click on the following link:
https://www.erneuerbare-energien-hamburg.de/de/news/uebersicht/details/skowronnek-bechnak-gruenden-japanische-unternehmensgesellschaft-um-den-offshore-windmarkt-in-japan-besser-bedienen-zu-koennen.html

Following upon the opening of our Tokyo office in September 2019 and the trustful relationships we have been able to establish with the Japanese Offshore Wind Stakeholders, we have decided to open a Japanese company to be closer to our Japanese Clients and Lenders. The advantage for our Clients is now being able to work with us in a context that complies with the laws of Japan and the Japanese jurisdiction.

But why we did we choose Japan in the first place? To be exact, because of Shinkansen, the Rainbow Bridge and Skytree. Because they represent for us the technological progress and human creativity. And that is how we perceive Japan: as a minimalistic design, precision and reliability.

Following upon Japan´s decision to develop Offshore Wind, our decision to accompany the country by its endeavors was inevitable. Our new company Skowronnek & Bechnak Japan 株式会社 specializes in risk and insurance advisory and provides, in cooperation with Clients, new solutions for Japanese Offshore Wind risks insurability, including the risk of typhoon, tsunami, earthquake and lightning strike. In particular we raise our Clients´ awareness of losses which are not insurable or only difficult and costly to insure, such as e.g. the risk of soil liquefaction after an earthquake or the risk of lightning strike damage which is particularly prominent in Japan.

The company establishment process last year was very challenging, due also to the prohibition of entry into Japan. The entire process was performed electronically, including submission of notarized signatures and documents. We have, however, succeeded, thanks to our Japanese partners who were always ready to assist and who made use of all possible options granted by the Japanese laws and administration to enable the completion of the process even without our personal presence.

And this is also part of modern Japan: in harmony with traditions, the country strives for flexibility and modernity and enables foreign companies which could make an additional positive contribution to the Japanese economy, the necessary access.

Our new Japanese company

Thu, 14 Jan 2021 08:09:24 GMT

We are proudly announcing the establishment of the Japanese company – Skowronnek & Bechnak Japan Co. Ltd. (株式会社) on 21 December 2020.

Following upon the opening of the Tokyo office in September 2019 and the trustful relationships with Japanese Offshore Wind stakeholders we have successfully established, we have decided to open a Japanese company to be closer to our Japanese Clients and Lenders.

The principle advantage for Japanese partners is the possibility to work and receive risk and insurance advisory services within a fully Japanese context provided under the laws of Japan and being subjected to Japanese jurisdiction.

As part of our risk and insurance advisory services, we specialize in Japanese Insurance Act and its application and interpretation in the context of Offshore Wind insurance policies and claims management process. In this respect we continuously update our knowledge with Japanese counterparts and follow closely the Japanese Offshore Wind legislative framework development. Our risk and insurance advisory services are complementary to those provided traditionally by insurance brokers.

We also strive to provide new solutions for insurability of Japan specific Offshore Wind risks, including the risks of typhoon, tsunami, earthquake and lightning strike and monitor the development of governmental regulations imposed upon wind farms affected by these events. In particular, we raise the Clients´ awareness of losses which are not insurable or difficult and costly to insure, such as e.g. the risk of soil liquefaction or provide alternative solutions against losses which are insurable but generally subject to a longer waiting period during which Clients do not receive indemnification. These include e.g. the requirement of shutting down the wind turbine hit by a lightning strike which consequently cannot generate electricity, and where indemnification is subject to a deductible of generally not less than 2 months and which is eventually not indemnified by insurance in the absence of a physical loss affecting the turbine.

Being fully immersed in the Japanese Offshore Wind legislative framework enables us to provide Clients with Japan compliant and yet innovative risk prevention, minimization and insurance concept proposals.

Our entire Japanese specific Offshore Wind knowledge is equally provided for the benefit of Lenders when we act as Lenders Insurance Advisors for Japanese offshore wind farms under development or during re-financing process. Our country and geographical region specific knowledge secures the interest of Japanese Lenders and Investors by our insurance and insurability focused scrutiny of Japan specific (additional) risk, technical, environmental and contractual exposure and its control and minimization by insurance coverage underwritten on an adequate Japan specific insurance policy wording and additional necessary safeguarding mechanisms.

We sincerely thank you for the trust given us and wish that the establishment of the Japanese Co. Ltd. company confirms our long-term commitment to Japanese partners in Offshore Wind projects.

Exclusive Cooperation for France

Fri, 11 Dec 2020 13:53:57 GMT

One of the leading insurance brokers in France, Bessé and their Marine Renewable Energy experts, have signed an exclusive cooperation agreement with Skowronnek & Bechnak.This partnership aims to create a multi-disciplinary team, unique in France, able to assist with all the "insurance” issues of its customers, with respect to both insurance markets and all the industry’s other stakeholders (operators, contractors, subcontractors, suppliers, etc.), as well as the financial parties, which continue to hold the keys to the development of the industrialization phase of renewable marine energy. The first projects for the cooperation will be the next Floating Offshore Wind Farms in France.

Lightning strike risk for offshore wind farms

Thu, 29 Oct 2020 08:10:44 GMT

Skowronnek & Bechnak are engaged in seeking combined technical and insurance solutions against the risk of a lightning strike and the resulting loss or damage, including financial impact on the offshore wind farms due to loss of production during the turbines downtime. The impact on the offshore wind farms can be very significant in particular in territories where lightning strikes are frequent, such as e.g. norther parts of Japan where the probability of a lightning strike is 300 times higher than in the European North Sea. Further queries can be addressed at info@sbadvisors.de .

Ralf Skowronnek appointed Chairman of Insurance Sub-Committee of Floating Offshore Wind – World Forum Offshore Wind (WFO)

Mon, 19 Oct 2020 12:26:03 GMT

Ralf Skowronnek has been appointed the Chairman of the Insurance Sub-Committee of the Floating Offshore Wind Committee, World Forum Offshore Wind, leading the initiative of international experts focusing on addressing the floating system parameters and formulating the industry standards conforming to insurers´ requirements in order to secure future insurability of the floating technology, in particular when it comes to large scale projects and their bankability.

Japan Energy 2020 – “How to increase insurability of large scale floating projects and decrease the LCoE”

Mon, 19 Oct 2020 11:43:32 GMT

Skowronnek & Bechnak are a sponsor and panelist at the Japan Energy 2020 engaged in the panel discussion on “How to Optimize Performance Versus Reliability to Encourage the Deployment of Floating Wind” and presenting their own arguments on “How to increase insurability of large scale floating projects and decrease the LCoE”.

MoU with MST Risk Consulting

Mon, 19 Oct 2020 11:43:32 GMT

Skowronnek & Bechnak are very proud to have signed a Memorandum of Understanding with MST Risk Consulting, a major Japanese insurance broker and risk consultant with significant experience with Renewable Energy and Infrastructure projects.