The Părău 2 photovoltaic project in Romania, with a capacity of 342 MWp, is currently under construction, marking another significant step in the development of large-scale renewable energy in the region, according to a press release from Renewable Energy Insurance Broker (REIB), which arranged insurance for the project.
REIB supports the Părău 2 project with a comprehensive insurance program involving 10 international insurers, reflecting both the scale of the asset and the need for a robust and well-structured risk-sharing approach. The placement was coordinated by REIB’s Penka Ivanova, who successfully structured and aligned the participation of all insurers involved.
At this stage, the project is protected by a dual-phase insurance structure, with Construction All Risk (CAR) coverage aligned with Operational All Risk (OAR) upon completion of commissioning.
The dual-phase insurance structure ensures protection across the entire lifecycle
This ensures continuous protection across the entire lifecycle of the asset – from construction to operation, while also supporting stronger financing conditions, according to REIB, which is a bronze sponsor of Belgrade Energy Forum 2026, taking place on May 11 and 12.
The insurance program is designed to cover all key risk exposures, including:
- Мaterial damage during construction and operation,
- Delay in Start-Up / Advance Loss of Profit (DSU/ALOP) with a 12-month indemnity period,
- Business Interruption (BI) during operation,
- Third-Party Liability (TPL) across both phases,
- Terrorism coverage, specifically negotiated and included,
- Marine Cargo and Marine DSU – equipment transport and related revenue risks.
This integrated approach ensures that both physical and financial risks are addressed, providing investors and lenders with a higher level of security throughout the project lifecycle.
REIB supports over 30% of the PV and BESS market in Romania
With a strong and growing presence in Romania, where REIB already supports over 30% of the PV and BESS market, the company continues to bring proven international insurance structures to local projects, helping developers and investors de-risk investments, improve bankability, and accelerate deployment.
For more information or to discuss similar projects, feel free to get in touch with REIB’s team.
