Wind Watch is published every Monday and Friday.
In the meantime, here is the latest in our series of Q&As profiling our members. Interested in being profiled? Please contact Richard Heap, editor or Joe Gulliver, membership manager.
Name: George Pooley
Job: Head of Loss Adjusting
Company: Renewable Energy Loss Adjusters
How long have you worked in renewables?
I have worked in the insurance industry for 12 years, and for approximately ten of these I have become specialised in adjusting renewable energy claims, predominantly in the wind sector. I have been at RELA since 2012, when I founded the company.
What does your firm do?
Offers risk surveys and loss adjusting services solely for renewable energy assets.
In which markets do you see the biggest opportunities?
In the wake of COP21 in December, the opportunities in renewable energy in developing economies have never been so great. In 2015, we saw a large increase in the level of investment in renewable energy in emerging markets, including extremely strong performances in China, Mexico, Morocco, South Africa and others.
Over the next few years, when the planned projects in these areas come into fruition, this is where the biggest opportunities will lie.
What is the biggest challenge for wind? How would you fix it?
As the wind industry is relatively young, there are ongoing issues with the quality of the design, the presence of defects and contractor error. Whilst the quality will improve in time through research and development, these challenges are currently coming at the expense of Insurers which, in turn, results in relatively higher premiums for the owner.
With regards to improving the quality and reliability of components, an increase in the level of competition amongst manufacturers will undoubtedly be vital. However, despite the success of the Paris Climate Summit, the recent spate of governments threatening to retract subsidies is creating a level of uncertainty within the market which has a negative impact on market confidence.
What do you enjoy most about working in wind?
Being involved in the loss adjusting and surveying side of wind energy is extremely exciting. The industry is evolving at an incredible speed and as a result we are frequently being confronted with new challenges in the field. The technology used is becoming more sophisticated and keeping up to speed with these developments is a stimulating process.
Why did you join A Word About Wind?
To keep up to date with the rapidly changing wind industry, and to have access to opinions and forecasts from leading wind experts.