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Founded Year

2010

Stage

Acquired | Acquired

About New Energy Risk

New Energy Risk is a provider of innovative data analytics, strategic consulting and financial risk transfer solutions to the renewable energy industry worldwide. The company serves as a risk assessor and intermediary between clean-energy innovators and insurers. On March 17th, 2022, New Energy Risk was acquired by Paragon Insurance Holdings. Terms of the transaction were not disclosed.

Headquarters Location

3555 Alameda de las Pulgas 2nd Floor

Menlo Park, California, 94025,

United States

650-617-0222

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Latest New Energy Risk News

Pioneering Energy Risk Solutions Empower ERCOT Battery Projects

Dec 26, 2023

New Energy Risk and Ascend Analytics have forged an industry-first insurance policy, securing energy storage performance in ERCOT’s ERCOT Battery ProjectsImage Source: RWE Synopsis New Energy Risk and Ascend Analytics have forged an industry-first insurance policy, securing energy storage performance in ERCOT’s power market. This policy, backed by NER's expertise in technical risk and Ascend's analytics, fosters revenue certainty for a Texas energy storage portfolio. It safeguards returns while allowing potential upside earnings from market fluctuations, aiding the grid's renewable integration. Article: New Energy Risk (NER) and Ascend Analytics recently finalized a groundbreaking energy storage insurance policy aimed at ensuring the performance of Ascend's battery storage forecasting and bidding optimization platform. This innovative collaboration marks a pioneering approach to insuring technical risks associated with grid-scale energy storage facilities in Texas's ERCOT power market. This milestone policy crafted by NER, a prominent insurance agency specializing in energy transition technology solutions, aligns with Ascend's expertise in energy market valuation and dispatch optimization. The joint effort enables the financing of a diverse portfolio of grid-scale energy storage facilities, providing a crucial revenue safety net while fostering the growth of renewable energy integration in ERCOT. The insurance policy underwrites Ascend's forecasting and SmartBidder™ technology, establishing a revenue baseline for the project over an extended term. Unlike traditional risk transfer solutions, this innovative policy not only ensures minimum revenues but also allows projects to capitalize on lucrative opportunities arising from ERCOT's high-volatility events. As Gary Dorris, CEO of Ascend Analytics, highlighted, "This offering with NER helps developers confidently deploy capital to support merchant storage operations by providing a revenue floor while preserving the upside potential of ERCOT’s more extreme events." Tom Dickson, CEO at NER, emphasized the importance of this collaboration, stating, "NER has been able to apply its modeling expertise of highly technical risks to Ascend’s robust framework to implement a precise transfer of risk." In ERCOT, where new energy storage solutions play a vital role in enhancing grid flexibility and resilience, this collaboration represents a crucial step towards transitioning to reliable clean energy. Ascend's proven track record in storage valuation and bid optimization combined with NER's risk modeling proficiency paves the way for increased confidence and financial backing in supporting merchant storage operations. Conclusion: The alliance between New Energy Risk and Ascend Analytics represents a pivotal milestone in the renewable energy sector. Their pioneering insurance policy, fostering revenue certainty while allowing for potential upside earnings in ERCOT's energy storage projects, underscores the vital role of risk management in enabling the transition towards reliable and clean energy solutions.

New Energy Risk Frequently Asked Questions (FAQ)

  • When was New Energy Risk founded?

    New Energy Risk was founded in 2010.

  • Where is New Energy Risk's headquarters?

    New Energy Risk's headquarters is located at 3555 Alameda de las Pulgas, Menlo Park.

  • What is New Energy Risk's latest funding round?

    New Energy Risk's latest funding round is Acquired.

  • Who are the investors of New Energy Risk?

    Investors of New Energy Risk include Paragon Insurance Holdings and XL Innovate.

  • Who are New Energy Risk's competitors?

    Competitors of New Energy Risk include kWh Analytics.

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