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Call: 1 866 806-7206
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| Canadian Renewable Energy Insurance Newsletter |
Summer 2007 |

Did You Know?
In 2006, Canada more than doubled its wind generated power capacity but still lags far behind other countries around the world in developing renewable energy sources. The world leaders in installed capacity are Germany, followed by Spain, USA, India, Denmark and China. |
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Wind Turbine Technology Evolving Quickly
|
1970’s Technology |
Current Technology |
Current
Proto-types |
In
Research |
Blade size |
5 to 10 metres |
40 metres |
62 metres |
90 metres |
Output |
200-300 kw |
2.5 MW |
6MW |
|
Cost |
US$ 2/ kwh |
5¢ - 8¢/kwh |
|
3¢ - 4¢ /kwh |
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Using the wind as a source of power on land dates back to ancient times when the Persians bundled reeds in a make-shift windmill to help grind grain. It wasn’t until the 1970s though that the idea of converting wind power into electricity brought wind turbines on stream around the world. According to figures quoted in The Economist, June 2007, wind turbine technology is evolving quickly.
Canadian Renewable Energy Insurance (CREI) Exclusive Products for Renewable Energy Sector
Canadian Renewable Energy Insurance (CREI) is an exclusive Canadian supplier of insurance and financial services for the emerging renewable energy sector in Canada.
A division of Oakwood Financial Inc. in Mississauga, Ontario, CREI offers clients a specific understanding of renewable energy projects, the insurable risks of such projects, and the financial
requirements for large and small-scale projects.
Financing
CREI is allied with financial organizations worldwide that are vastly experienced in the financing of both onshore and offshore renewable energy projects in the UK and Europe.
Insurance
CREI provides knowledgeable and comprehensive coverage options unique to the renewable energy sector. Liability coverage and extensions are available for all risks from start-up through to day-to-day operations and contracted delivery of energy. We specialize in renewable energy ventures of all sizes and the needs of their operators.
Experience In Large and Small Wind Farm Projects
CREI is able to offer superior value and rates to Canadian clients based on the extensive experience of our partners in Europe. For example:

Thanet Offshore Wind Farm
CREI partners in Europe are involved in the insurance programs for this 300 MW project situated off the south east coast of Kent. This project will be the first round-two offshore wind farm to be built in the UK. Estimated cost of the project is £500,000,000. |
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Scotland Projects
CREI partners arranged the insurance program and hold a principal position in several wind farm projects in Scotland with an average output of 10 MW per project. |
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Five Ways to Find Peace of Mind…
Cover Your Risk
Canadian Renewable Energy Insurance covers your business at every stage from
transportation of your equipment, through construction and operation.
1 Cover Your Cargo
All risks for Cargo:
• Marine • Air Freight • Road Haulage • Sea Freight
Through Canadian Renewable Energy Insurance, your business can claim for advance loss of revenue due to a delay in completion following the accidental loss or damage to your cargo during transit.
2 Cover Your Construction
Things can and do happen to many projects during the construction phase. Look for Contractors All Risk coverage. It provides protection for civil works, turbine installation and construction equipment as well as all risk coverage for the plant site and equipment, loss of hiring charges, testing and commissioning. Our coverage provides advance loss of revenue due to a delay in completion of the contract following accidental loss of or damage to the site.
3 Cover Your Day-to-Day Operations
Canadian Renewable Energy Insurance provides all risk coverage for day to day operations. Included is coverage for equipment such as towers, nacelles, blades transformers, computers, generators, cabling, foundations, buildings and other site property. All risks includes protection from fire, lightning, malicious damage, storms, theft, accidental damage, subsidence, electrical and mechanical breakdowns. Inflation provisions are also available. We can also provide loss of revenue during replacement or repair of equipment damaged or destroyed by an insured peril.
4 Cover Your Liabilities
As with other businesses renewable energy providers need to cover their liabilities which include:
• Employer Liability • Public/Products Liability • Pollution • Sub contractors
5 Look for Extensions
You may be interested in extensions to standard policy provisions. Extended coverage is available for failure of power to the site, of supply to customers and of supply to customers where their premises are damaged. We also have extensions available for offshore risks and electrical and mechanical breakdown risks where the manufactures warranty has expired.
| Our experience is your guarantee |
Renewable Energy Projects Include
Wind Farms-Onshore | Wind Farms-Offshore | Wave/Tidal Turbines |
The Winds of Change
Wind energy is one the fastest growing renewable energies in the world with installations all over the world.
According to the World Energy Council, “Canada’s wind energy potential is estimated to be far in excess of its current use of electricity (about 500 TWh).”
Experts estimate Canada has the potential to meet roughly 20% of its own electricity need through wind power. The Government of Canada’s ecoENERGY Renewable Initiative provides $1.5 billion in funding to boost Canada’s renewable energy supplies. There are two programs: ecoENERGY for Renewable Power and ecoENERGY for Renewable Heat.
Whether you are new to the Renewable Energy sector or well established with installed capacity, talk to us about your insurance or financing needs.
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