GreenieRE, a reinsurance firm specialising in risk solutions for the energy sector, has partnered with United Casualty and Surety Insurance Company (UCS), a provider of casualty and surety products, to launch a Renewable Energy Surety Programme.
The initiative introduces financial products that reduce development and completion risks for renewable projects, supporting the expansion of clean energy infrastructure, according to InsurTech Insights.
GreenieRE delivers reinsurance solutions tailored to energy markets, while UCS brings expertise in casualty and surety underwriting, risk-sharing, and claims management. Together, the firms aim to provide developers and utilities with additional capacity and support.
The programme launches with bonds for a community solar project in the Midwest. These include interconnection bonds, covering risks tied to incomplete grid upgrades, and decommissioning bonds, ensuring funds to dismantle equipment at the end of its lifecycle.
Future products will include performance, construction, power purchase agreement (PPA/VPPA), and site lease and permit bonds, each designed to ease bottlenecks in renewable project financing.
UCS will participate in risk sharing, underwriting review, and claims handling. The partnership also targets challenges faced by projects in low-income and disadvantaged communities, aiming to broaden access to affordable renewable power and draw more private investment into the sector.
“Our surety program directly supports the buildout of renewable energy assets, enabling capital-efficient credit support for developers and utilities,” said GreenieRE CEO Jeff McAulay. “This partnership reflects our commitment to helping more domestic clean energy infrastructure get built quickly and responsibly.”
“This program represents a terrific opportunity to drive development in the renewable energy sector, and we are excited to partner with GreenieRE to provide the capacity new market entrants need to bring their ideas to fruition,” said UCS president Robert Thomas.
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