Clir Risk drives improved insurance and financing terms
Leverage project insights and industry data for an accurate assessment of asset health and framework for mitigation.
Clir Risk Features
Operational Performance Benchmarks
Performance benchmarks based on technology, age and location which help determine what is considered normal and not.
Nat Cat Modelling
All major nat cat risks are modelled which inform future chance of a catastrophic event and quantification of probable maximum loss
Shape and Volume Modelling
Production shape and volume is modelled and forecasted so that business interruption from major component failures or insurable events can be understood
Known Issues
Industry risk data identifies technical issues that occurred on similar projects based on region, vintage and technology to develop best-in-class mitigation strategies.
Major Component Exchange Forecasting
Forward looking failure forecasts setting worst, best and expected scenarios to support O&M planning and budget setting around major risk areas.
Risk Tooling
Quantification of component failure frequency, severity and business interruption to understand risk shape and distribution for all major components.
An intelligent assessment for risk reduction.
Precise view on asset health
Combining insights from a global dataset with a deep analysis of project-specific risks enables a more precise view on the health of assets.
.svg){kind=icon}
Data-led best practices
Owners get earlier and deeper insight into risks impacting their wind and solar assets. The assessment also creates a best practice framework for long-term risk management.
Improved insurance, financing and M&A
By providing data-driven evidence of current risk, and measures to be taken for risk reduction, the assessment can improve the economics of projects.
How we support clients with risk reduction
Case study
Leveraging Clir Risk for GCube Smart Insurance led to:
- A 26 per cent reduction in gross premium.
- Introduction of project-specific deductibles for flexible costs.
- Data-driven recommendations to mitigate risk for improved renewable energy insurance rates in the future.
Clir Risk assessment framework
Clir Risk assesses and collaborates with owners to improve assets based on the results from four key asset health categories.
Asset health
Analyzes and compares operational indicators — such as meteorological and operational loading, component health, and extreme weather risk — for a clear view of risk.
- Meteorological loading
- Operational loading
- Existing health issues
- Natural catastrophe risk
Asset reliability
Reliability of equipment, and effectiveness of O&M practices, are evaluated based on failure rate and repair time using site-specific SCADA data and Clir’s benchmarking data.
- Mean failure rate
- Mean repair time
- Major failure frequency and claim history
- Known wind turbine issues
Operational practices
To encourage best operational practices, Clir assesses areas that impact asset failure, and provides clients with a roadmap to improve operations and mitigate risk.
- Drivetrain inspection and monitoring
- Blade inspection and monitoring
- Major component replacement
- Storm preparedness
Contractual risk
With applied research and domain expertise, Clir can assess how different contractual approaches influence risk and downtime.
- Warranty
- Service agreement
- Major maintenance budget
Best practices for top claim risks
Leveraging Clir’s technical expertise and operational data, the report highlights the five risks most likely to drive claims at the farm and provides further details, including:
- Risk description
- Common causes
- Fault identification
- Risk mitigation
- Prediction
Talk to an expert
Gain highly accurate insights into asset health risk.
- Precise view on asset health.
- Data-led best practices.
- Improved insurance, financing and M&A.