kWh Analytics Inc, the climate insurance company, has announced a significant increase in its capacity agreement with Bermudian-based Aspen Insurance to support its property insurance offering for renewable energy projects.

With this increase, the San Francisco-based organisation said, kWh Analytics is able to underwrite up to $75 million per renewable energy project location and has full delegated authority to cover accounts comprising up to 100 per cent of operational solar and/or battery energy storage systems projects and up to 50 per cent of wind and/or construction accounts.

kWh Analytics’ capacity increase comes after the company partnered with Aspen to launch property insurance underwriting and capacity for renewable energy assets in January 2023.

The company said kWh Analytics and Aspen now have four of the top ten global insurance or reinsurance partners on their panel.

Jason Kaminsky, CEO at kWh Analytics, said: “This capacity raise is a strong indicator of confidence in our company’s data and sophisticated modelling capabilities and the industry’s desire to encourage resilient renewable assets.

“Adding capacity enables us to expand coverage options for responsible asset owners, supporting renewable energy growth amidst worsening natural disasters by incentivising resilience and bridging the protection gap.”

Josh Jennings, SVP and head of Inland Marine at Aspen Insurance, said: “kWh Analytics' data-driven approach is consistent with Aspen’s future-focused underwriting strategy, and we’re delighted to continue our collaboration to meet our clients’ evolving needs with innovative renewables solutions.

“This increased capacity provides additional options for asset owners who are proactively designing, building and maintaining resilient assets, and it further strengthens our commitment with kWh Analytics to offer solutions for the growing demands of the renewable energy market.”