Member Article

Narec Capital form alliance to boost renewables sector.

Businesses in the renewable energy market are set to benefit from a new strategic alliance between insurance broker Willis Group Holdings and clean energy financier Narec Capital.

By combining their finance and insurance capabilities, the pair hope to offer potential investors and developers confidence to test and produce new clean energy solutions. It is hoped that the partnership will enable businesses to come together to tackle challenges and mitigate the risk of investment in renewable technologies.

Commenting on the partnership with Willis, Jerry Biggs, Chief Executive of Narec Capital, said: “The strengths of Willis strongly complement those of Narec Capital and our partners.

“The breadth of our rapidly growing financial risk mitigation capability, headed by the very experienced team of Michael Bullock and Bill Lloyd, in conjunction with our technical due diligence activities, is already helping us to bring much-needed additional financial capacity into the renewable sector and will reduce the overall cost of capital for our investors.

“With our team working closely with Willis, we are certain that we will be able to accelerate this market development even more rapidly.”

Willis have extensive experience in insuring businesses in this sector, while Narec have the ability to open up finance opportunities by identifying investors with an appetite for early-stage renewable development and de-risking those opportunities.

Michael Buckle, Renewable Energy Practice Leader at Willis, added: “We are delighted to work with Narec Capital to bring together and harness a unique proposition to accelerate and mitigate the risks of renewable energy development.

“The agreement supports our companies’ shared objective to drive positive change in the clean energy market by reducing and mitigating the risks linked to renewable development.

“Alongside Narec Capital, we share the same vision and the fusion of skills within each organisation shows outstanding and unprecedented capability in the sector.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .