Renew Risk launches Taiwan offshore wind models
Ashima Gupta
CEO
Renew Risk
10 December 2024 - Renewable risk modelling firm Renew Risk has launched two new catastrophe models: the Taiwan Typhoon Offshore Wind Model and the Taiwan Earthquake Offshore Wind Model.
The models will help (re)insurers and offshore wind farm developers to better understand the risks associated with typhoons and earthquakes for offshore wind farms in Japan. Designed to provide clients with deeper insights and actionable input to underwrite the evolving risks in this region, these two models will help clients stay ahead in an ever-changing landscape.
Key features
All catastrophe model loss metrics (AAL, EP, YLT, ELT).
Exposure modelling of turbines, cables, substations (including an Industry Exposure Database of all assets scheduled until 2032.
Vulnerability for foundation types, turbine sizes, cable protection systems etc.
Typhoon modelling of wind + wave.
Earthquake modelling of shaking + landslide and liquefaction.
Operational and construction scenarios, including laydown areas.
“We are committed to empowering the insurance sector with the intelligence needed to make informed decisions. With our new Taiwan models, we hope our clients can built confidence in their risk management strategies for the region.”
The new models add to Renew Risk’s existing portfolio, which includes a cutting-edge US (East Coast) Hurricane Offshore Wind Model. All of Renew Risk’s risk models are built on the Oasis Loss Modelling Framework Ltd. and are now available to clients via our own cloud platform (AWS) or via Verisk’s Model Exchange Platform.
About Renew Risk
Renew Risk provides the enhanced insights needed for insurers, energy developers and financiers to make informed decisions about renewable energy assets. Driven by client needs, Renew Risk combines a science-first approach with a passion for energy resilience to provide an unparalleled portfolio of catastrophe models and risk insights focussed solely on renewable energy infrastructure. Together, we can power the energy transition.