The team aims to develop bespoke insurance coverage that addresses the unique transaction risks associated with renewable energy projects. Credit: PanyaStudio/Shutterstock.

CFC has announced the creation of a dedicated team to cover mergers and acquisitions (M&A) transactions within the renewable energy market.

This move further expands the UK-based specialty insurance company’s transaction liability practice.

The company has selected Simon Wood to lead the newly created team.

Wood, who joined CFC’s transaction liability practice more than a year ago, has legal expertise from his previous role at an international law firm.

The renewable energy M&A insurance team at CFC has been further strengthened by the appointment of Aline Brayner.

Brayner is a lawyer with experience in strategic counsel for large and complex energy projects, particularly those focusing on renewable energy technologies.

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The team aims to develop bespoke insurance coverage that addresses the unique transaction risks associated with renewable energy projects, such as offtake agreements and environmental liabilities.

CFC’s energy and renewables underwriting team will collaborate closely with the company’s newly established specialist tax practice.

This collaboration is intended to tackle complex issues that can arise in renewable energy transactions, including investment tax credits.

CFC head of transaction liability Gus Marshall said: “The energy landscape is rapidly transforming as governments, public and private sectors increasingly seek to invest in renewable energy as they navigate the energy transition and support moves towards net zero. 2023 saw a remarkable $559bn of deals undertaken in the renewable sector.

“This has led to a significant uptick in the amount of deals that we are managing in this space, and given the unique risks associated with renewable energy projects, we have invested in a dedicated team to support our ever growing number of clients investing in renewable projects.”

Earlier in the month, CFC revealed plans to acquire Solution Underwriting, an Australian managing general agent specialising in financial lines insurance products.

The launch of the renewable energy M&A insurance team and the planned acquisition of Solution Underwriting follow CFC’s recent entry into the carbon insurance market.

CFC’s Carbon Delivery Insurance product promises to offer 100% coverage for the non-delivery of voluntary carbon credits, safeguarding against both physical and political risks.