GCube and C&G form renewable energy partnership
13 May 2011
GCube, the insurance provider, and South African underwriter C&G have formed a partnership for new renewable energy projects in South Africa, Renewable Energy Focus has reported.
Fraser McLachlan, chief executive at GCube, conceded the sustained market growth in renewable energy around the world has faced some serious challenges.
South Africa, Mr McLachlan observed, has for many years been reliant on its own natural resources for the production of energy.
"However," he said, "it is encouraging to see a more diverse mix of power generating assets being considered for this important region."
South Africa hopes to have 42 per cent of new power projects from renewable energy.
"With South Africa on the cusp of significant renewable energy investment, we partnered with GCube to ensure that we can both assist in deriving the market from our respective areas of expertise," commented Mike Robson, managing director of C&G.
The overarching ambition of the partnership is to create a relationship that addresses the "importance of providing quality insurance products that are specifically designed for the renewable energy sector", he said.