Rinat Akhmetov's energy holding DTEK, with the assistance of international insurance broker GrECo and insurance company UNIQA Ukraine, has insured all solar and wind power plants of DTEK RES. According to the press service of DTEK, this fully complies with corporate requirements for insurance coverage and takes into account internal risk management standards and requirements for contractual documentation.
“Risk management is an important part of the corporate governance of our company. DTEK was one of the first in Ukraine to introduce a risk management practice, which includes the transfer to insurance of those risks that the company is not ready to manage on its own, ”said Oleksiy Povolotskiy, Director for Corporate Governance, Risk Management and Compliance.
A unified insurance program for all DTEK RES stations was developed by DTEK specialists together with international players in the insurance market. This made it possible to conclude contracts with the involvement of the best international reinsurers with a high international credit rating (not lower than “A-” according to the S&P rating agency scale).
“DTEK has once again shown the high expertise of its team - for the first time, an insurance program of such complexity and volume has been successfully placed on the renewable energy market in Ukraine, with the involvement of international insurance markets. These projects allow attracting the best international practices in the field of risk management and reinsurance capacity to Ukraine, which ensures reliable protection of business from frequent and large losses, reduces revenue volatility and thereby contributes to the development of the country and increases the confidence of international financial institutions " DTEK RES Maris Kunitskis.