Allianz Global Corporate & Specialty’s (AGCS) alternative risk transfer unit and Nephila Climate, the weather and ESG-driven specialty division of reinsurance investment giant Nephila Capital, have closed the first set of solar proxy revenue swaps for two solar projects in Australia.
The two five-year deals were for the solar projects in the Susan River Solar and Childers Solar facilities located in South East Queensland, both owned entirely by subsidiaries of Elliott Green Power, to protect revenues from the financial risks associated with uncertain production volume, timing of energy generation, and future energy prices.
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