Insurance Package Policy for Offshore Wind Farm EnBW He Dreiht, consisting of 64 offshore wind turbines (total capacity of 960 MW) including but not limited to foundations and inner-array cables (no offshore substation).
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The Insurance Package Policy consists of the following two PHASES:
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PHASE I - Offshore Wind Farm Construction All Risks (CAR) Property Damage and Third Party Liability (TPL) Project Package Policy and (only OPTIONAL) Delay-in Start-up (DSU) Insurance .
PHASE II - Offshore Wind Farm Operational All Risks (OAR) Property Damage (PD) and (only OPTIONAL) Business Interruption (BI) Policy .
Insurance Package Policy for Offshore Wind Farm EnBW He Dreiht, consisting of 64 offshore wind turbines (total capacity of 960 MW) including but not limited to foundations and inner-array cables (no offshore substation).
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Sums insured will be approx. 1,805,000,000 EUR for CAR/PD and 250,000,000 EUR p.a. for DSU/BI (12 month Indemnity Period foreseen) resp. 375,000,000 EUR for Contingent DSU/BI (18 months Indemnity Period foreseen) plus additional limits. The Loss Limit will amount to approx. 725,000,000 EUR eel (CAR/PD + Contingent DSU/BI, both incl. additional limits - The Loss Limit already includes additional limits).
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Policy foreseen to start in February 2023. Offshore activities are scheduled to start in April 2024. CAR (Phase I) expected to be completed in March 2026. OAR (Phase II) cover will automatically follow for two full calendar years (expected to end on 31.12.2028).