risk management

Ensuring compliance in power generation projects is non-negotiable—and it’s no longer a box to tick at the end of a project. It now demands continuous oversight, code alignment, and documentation from the very first planning meeting to final handover. For project teams in the energy sector, this shift comes at a time of tighter National […]

I have spent years in law firms and in-house legal departments counseling clients in the energy sector with respect to their contracts and the related process they utilize in papering their deals. What I have learned is that the pitfalls awaiting a company that isn’t effectively papering its deals and/or following a streamlined and clear […]

Extreme weather events have increased in frequency and intensity, but renewable energy projects can maintain financial stability through sound technical and financial risk mitigation strategies. Extreme

Historically, generator inspections require rotor removal (Figure 3). There’s a significant level of risk during this process due to possible generator damage during the disassembly, and it also requires

Digital technology poses critical challenges for the power sector. As the backbone of modern society, any disruption to power infrastructure can have far-reaching consequences. To learn steps leading power companies can take to protect their systems, POWER interviewed Apu Pavithran, founder and CEO of Hexnode. Hexnode’s award-winning Unified Endpoint Management (UEM) platform has empowered organizations […]

As the urgency to combat climate change intensifies, the energy sector faces unprecedented financial risks. One of the most pressing issues is the risk of stranded assets. This challenge was first brought to widespread attention by the Carbon Tracker Initiative’s 2011 report, which highlighted the financial risks associated with unburnable carbon. Now, the risk of […]

Renewable energy project developers and contractors must be prepared to negotiate novel risks in a quickly changing global market. Technological innovations in renewable energy equipment and decreasing

Combined cycle gas turbine (CCGT) power plants started appearing on a larger scale in the late 1990s and have since then been a very efficient supplier of baseload and lately peaking capacity to the power grids. The U.S. Energy Information Administration (EIA) recently reported that natural gas–fired capacity additions are increasing in the U.S. again […]

Managing risk is nothing new to utilities. Providing the safe utility services like electricity, water, sewer, and wastewater management that everyone relies upon is hard work. Critical infrastructure assets are prime targets for bad actors looking to use cyberattacks to cause high-impact disruptions. As utilities adopt software-centric, data-driven operations, they will continue to work diligently […]

FBI Director Christopher Wray, while speaking at the Vanderbilt Summit on Modern Conflict and Emerging Threats in Nashville, Tennessee, in April, warned that U.S. critical infrastructure is a prime target of the Chinese government. “The fact is, the PRC’s [People’s Republic of China’s] targeting of our critical infrastructure is both broad and unrelenting,” he said. […]

CORE Electric Cooperative to Deploy Technosylva’s Wildfire Risk Mitigation Solutions LA JOLLA, CA, and SEDALIA, CO, May 30, 2024 – Technosylva, the leading provider of wildfire mitigation technology solutions, and CORE Electric Cooperative (CORE), the largest electric distribution cooperative in Colorado, today announced a new partnership and collaboration to reduce the impacts of wildfire to […]

How can a utility, or any organization for that matter, prepare for the unexpected, especially when it comes to the volatility of weather? This question is increasingly coming to the forefront of risk

The groundbreaking Inflation Reduction Act (IRA) will put hundreds of billions of dollars toward renewables. As the most comprehensive energy policy in recent years, the IRA is already having a profound impact

John Stevens Cabot Abbott, the 19th century American historian perhaps best known for writing History of Napoleon Bonaparte and History of the Civil War in America , is attributed with the quote, “War is the

By Damon Good, Business Development Manager – Mobile Water Services ANZ, Veolia Water Technologies Water is a critical component of many manufacturing processes and the demand for it is increasing alongside population and industry growth. So, what can manufacturers do if critical water treatment systems fail? Imagine this scenario: It’s Sunday morning and the water […]

How do utility asset managers deal with risks and failures of assets in the long-term? How much should they be budgeting for maintenance, asset renewal, and investments? The answers are not always obvious for asset managers that are faced with increasingly severe weather and the need for strengthened electrical grids. Another layer of unpredictability is […]

New brokerage to upend a market of general products and services with highly specialized offerings Newport Beach, CA – October 13th 2020 – Jatin Sharma and his co-founding partners have today officially launched a specialist insurance broker to serve the renewable energy, conventional power, infrastructure and transport sectors. NARDAC Insurance Services (NARDAC) is aiming to […]

Marking another major federal effort to address potential supply chain risks to the bulk power system (BPS), the Federal Energy Regulatory Commission (FERC) on Sept. 17 sought industry’s perspective on a number of important considerations, including possible actions the regulatory body could take to address security gaps. The U.S.-based power sector, meanwhile, has moved quickly […]

Is your plant’s natural disaster preparedness plan leaving your site vulnerable? This article provides some best practices to help you prepare for the worst. At some point in a plant’s life, there will

It’s an exciting era in energy generation. The rapid adoption of IT systems and networked technology has enabled new business models and catalyzed production decentralization. However, with innovation comes

Risk is inherent in all businesses, but power plants face unique perils that require the right protection. Property and casualty insurance may not be enough; equipment breakdown, business interruption, weather risk transfer, and cyber coverage are just a few examples of insurance that may also be worth considering. The right coverage could mean the difference […]

A variety of approaches have been used to capture new benefits from combined heat and power (CHP) facilities. Some owners have transitioned to new fuels or added renewables to the mix, while others have implemented unique business models to spur development. As district heating systems are brought into the 21st century, the CHP sector seems […]