Project Insurance Policies for HV/AC Grid Connection Systems Ostwind 3 and Gennaker
The tendered Insurance Coverage is subdivided in 4 lots, such as:
• Lot 1: Combined Marine and Construction Allrisk Insurance for HV/AC Grid Connection System Ostwind 3
• Lot 2: Combined Marine and Construction Allrisk Insurance for HV/AC Grid Connection System Gennaker
• Lot 3: Third Party Liability Cover including Environmental Liability Cover and Environmental Impairment Cover for HV/AC Grid Connection System Ostwind 3
• Lot 4: Third Party Liability Cover including Environmental Liability Cover and Environmental Impairment Cover for HV/AC Grid Connection System Gennaker
Procurement of Combined Marine- and Construction Allrisk Insurance for the Offshore Grid Connection System Ostwind 3 located in the German Baltic Sea.
The Grid Connection system is consisting of
- 1 x 220 kV 300 MW Cable System with a total length of approx. 100 km offshore and 5 km onshore
- Offshore Substation incl. auxiliary equipment
- Onshore Substation incl. auxiliary equipment
Insured Interest (including but not limited to):
- Laying of cables onshore and offshore (cable laying on the seabed and burying/wetting/drilling, cable protection measurements,
- pull of cables to the shore), Earthworks.
- Construction of Offshore-Substation
- Installation of technical equipment from 50Hertz Offshore GmbH on- and offshore
- all kind of transports needed to perform the project, in particular:
- Transports offshore
- Transports onshore and corresponding storages, loading- and unloading activities in particular loading onto the cable laying vessel and onto land based vehicles.
- Return shipments (also related to claims) ect.
- Spooling of cables onto turn tables (starting with first loading activities at manufacturers
premises)
Insurance policy wording will grant seemless transition from Marine- to Construction Allrisk Insurance.
Inception of insurance cover will be with start of assembly of Offshore Substation in the Shipyard estimated in July 2023. The insurance period will end with final taking-over of the whole project estimated in May 2026, followed by 24 months of Extended Maintenance.
More detailed information to the Ostwind 3 project you will find in the project summary at https://eliagroup.sharepoint.com/:f:/s/Filebox/EgsnfuWBYNFAmWFLRjttSi0B0S7opsQmPEmT-OMah4NCPA?e=CsqfQb.
Keyfacts of tendered Coverage:
Combined Marine and Construction Allrisk Insurance for HV/AC Grid Connection System Ostwind 3
Single Loss Limit: 580,000,000 EUR
Deductibles:
Marine/Transportation: 2,500,000 EUR each and every occurrence
Onshore works: 200,000 EUR each and every occurrence
All other: 5,000,000 EUR each and every occurrence
Procurement of Combined Marine- and Construction Allrisk Insurance for the Offshore Grid Connection System Gennaker located in the German Baltic Sea.
The Grid Connection system with a calculated total value of 1,500,000,000 - 2,000,000,000 EUR is consisting of
- 3 x 220 kV 300 MW Cable System with a total length of approx. 160 km offshore and 100 km onshore
- 2 Offshore Substation incl. auxiliary equipment
- Onshore Substation incl. auxiliary equipment
Insured Interest (including but not limited to):
- Laying of cables onshore and offshore (cable laying on the seabed and burying/wetting/drilling, cable protection measurements,
- pull of cables to the shore), Earthworks.
- Construction of Offshore-Substation
- Installation of technical equipment from 50Hertz Offshore GmbH on- and offshore
- all kind of transports needed to perform the project, in particular:
- Transports offshore
- Transports onshore and corresponding storages, loading- and unloading activities in particular loading onto the cable laying vessel and onto land based vehicles.
- Return shipments (also related to claims) etc.
- Spooling of cables onto turn tables (starting with first loading activities at manufacturers premises)
Insurance policy wording will grant seemless transition from Marine- to Construction Allrisk Insurance.
Inception of insurance cover will be with start of assembly of Offshore Substation in the Shipyard estimated in August 2023. The insurance period will end with final taking-over of the whole project estimated in June 2026, followed by 24 months of Extended Maintenance.
More detailed information to the Gennaker project you will find in the project summary at https://eliagroup.sharepoint.com/:f:/s/Filebox/EgsnfuWBYNFAmWFLRjttSi0B0S7opsQmPEmT-OMah4NCPA?e=CsqfQb.
Keyfacts of tendered Coverage:
Combined Marine and Construction Allrisk Insurance for HV/AC Grid Connection System Gennaker
Single Loss Limit: 580,000,000 EUR
Deductibles:
- Marine/Transportation: 2,500,000 EUR each and every occurrence
- Onshore works: 200,000 EUR each and every occurrence
- all other: 5,000,000 EUR each and every occurrence
Project related Third Party Liability Cover including Environmental Liability Cover and Environmental Impairment Cover including all deliverables and works of insured contractors. Works related to this projects will be performed onshore as well as offshore.
This insurance will grant coverage for legal liability and – as far as explicit included - contractual liability
- of co-insured contractors, subcontractors including joint-ventures working on this project,
- of experts, architects, engineers, project manager (project developer, project controller) as well as specialist experts and safety coordinators, involved in the project,
- freelancer with regard to claims, which will be incurred by performing works in the interest of the Princial Insured.
With regard to co-insured contractors and their respective subcontractors is agreed that their own insurances will be primary to this insurance – this insurance will grant DIC/DIL coverage subsidiary to existing insurances of co-insureds. If the primary insurance of co-insured subcontractors will not grant coverage, this DIC/DIL insurance will grant coverage based on agreed terms and conditions, including personal liability of respective subcontractor related to the insured project.
Keyfacts of tendered Coverage:
Third Party Liability Cover including Environmental Liability Cover and Environmental Impairment Cover for HV/AC Grid Connection System Ostwind 3
Limit of Liability: 50,000,000 EUR per occurrence and in the aggregate
Deductible for claims related to Principle Insured: 100,000 EUR each and every occurrence
for claims related to other Insured: 25,000,000 EUR each and every occurrence
Project related Third Party Liability Cover including Environmental Liability Cover and Environmental Impairment Cover including all deliverables and works of insured contractors. Works related to this projects will be performed onshore as well as offshore.
This insurance will grant coverage for legal liability and – as far as explicit included - contractual liability
- of co-insured contractors, subcontractors including joint-ventures working on this project,
- of experts, architects, engineers, project manager (project developer, project controller) as well as specialist experts and safety coordinators, involved in the project,
- freelancer with regard to claims, which will be incurred by performing works in the interest of the Princial Insured.
With regard to co-insured contractors and their respective subcontractors is agreed that their own insurances will be primary to this insurance – this insurance will grant DIC/DIL coverage subsidiary to existing insurances of co-insureds. If the primary insurance of co-insured subcontractors will not grant coverage, this DIC/DIL insurance will grant coverage based on agreed terms and conditions, including personal liability of respective subcontractor related to the insured project
Keyfacts of tendered Coverage:
Third Party Liability Cover including Environmental Liability Cover and Environmental Impairment Cover for HV/AC Grid Connection System Gennaker
Limit of Liability: 50,000,000 EUR per occurrence and in the aggregate
Deductible for claims related to Principle Insured: 100,000 EUR each and every occurrence
for claims related to other Insured: 25,000,000 EUR each and every occurrence