kWh Analytics wins this year's sustainable re/insurer of the year for its innovative approach to insuring solar and wind energy projects that advances risk management, pricing and product development – as well as facilitating the shift to clean energy sources.

The managing general agency offers two particularly novel products to renewable energy asset owners. One is a "solar revenue put" that reduces financial risk in solar projects by protecting output against equipment failure, below-expected light levels, weather and other risks. The firm says it has been applied to over $4bn of solar assets to date.

The other is a "wind proxy hedge" that addresses wind variability – a critical financing barrier in wind projects – by guaranteeing minimum revenue through a parametric hedge tied to wind speed.

Last year, kWh Analytics enhanced its loss modelling to take into account physical resilience features that reduce natural catastrophe damage to renewable energy infrastructure.

This has multiple benefits, the firm said. First, it enables pricing based on actual site design rather than assumptions or subjective underwriter judgment. Second, developers receive lower premiums for installing more resilient infrastructure. Third, capital providers gain confidence in the project's durability.

In 2024, kWh Analytics claimed an exceptional underwriting performance and more than trebled its gross written premiums in one year. The firm works with a panel of re/insurers including Swiss Re and Everest.

InsuranceERM's judging panel was highly impressed with the entry. "These innovative underwriting products and techniques to enable stable financing for the renewable energy sector are crucial to allowing the growth needed. Impressive to deliver this innovation with strong results," said one judge.