Reduce risk exposure and accelerate time to launch new projects
Reduce risk exposure and accelerate time to launch new projects
Reduce Exposure with Risk Engineering
In power generation, proactively managing risk exposure is critical. Wind farms, mines, power plants, utility stations, and other power generation facilities are complex. The risk exposures are large, and accidents are expensive. In times of decarbonization and a changing supply chain, the risks are even more pronounced.
Risks include technology and design risks, project execution and quality risks, operation & maintenance, obsolete parts and difficult repairs, safety risks, market disruption and regulatory changes.
Risk engineering from TÜV SÜD GRC can help you identify risks like fire and equipment failure while keeping you compliant with industry standards. We assess your risk of natural hazards like earthquakes and windstorms. Our insurance asset valuation team helps determine property values and minimizes the risk of underinsurance.
In the power generation industry, TÜV SÜD GRC has delivered the following results:
Accurate Property Values: Accurate values are critical to finding the right insurance program. Due to the power generation industry’s unique needs, our experts can provide specific and customized guidance about equipment and occupancies.
Natural Hazards Analysis: Some facilities are in areas with known windstorm, earthquake, or flood exposures. TÜV SÜD GRC can help identify and quantify those risks, provide detailed analysis of the exposures, and help you launch meaningful mitigation solutions.
Electrical Supply and Reliability: We have electrical specialists with the expertise to assist clients with improvements to electrical supply reliability. We also conduct equipment risk assessments for asset management. We even provide owner’s engineering services on the area of “cabling”/grid connection for wind parks.
Electrical Safety: Training courses are available on electrical energy, shock, and arc-flash hazard boundaries and personal protective equipment (PPE). We help you stay NFPA 70E-compliant. We are also a Notified Body under applicable directives of the European Union (EU) and can provide you with CE Marking. In the U.S. we are an accredited NRTL certification provider.
Fire Protection Engineering: Managing fire and explosion risks is critical for protecting personnel, facility assets, supply chain, and market share. Our engineers create fire protection programs tailored to your facilities, safety protocols, employees, and product compliance needs.
Smart Factories: Automation, smart robots, machine learning, additive manufacturing, and Internet of Things (IoT) are all contributing to industrial spaces where physical and digital production are converging. While these innovations can invite new risks such as cyber threats, implementing the Smart Industry Readiness Index serves as a guide for companies looking to start their digital transformation.
Business Continuity Planning: Identify business interruption risk, quantifying the potential impact to your company and develop mitigation strategies for potential problems.
Investors, underwriters, and others require detailed information about critical risks. They need to make sure proper insurance coverage is in place and all dangers that could derail a project have been considered.
Reports from TÜV SÜD Global Risk Consultants can facilitate your financing by:
TÜV SÜD Global Risk Consultants has expert engineers with world-class experience.
Deep knowledge of the equipment you use every day. From wind turbines to inverters. We know which parts are most susceptible to problems that can interrupt your business.
On the cutting edge of latest trends, our engineers stay current with evolving industry trends.
Owner’s engineering services that are always independent. Rather than assessing your facility with an underwriting lens, we take an independent approach to determine strategies make sense for your specific needs, operations, and culture.
Global reach. TÜV SÜD GRC has power generation and renewables experts around the world.
Have a question about risk engineering in the power generation and renewable energy sectors? Curious about the aspects of a risk assessment and what it might look like in your specific facility? Contact us for a no-hassle conversation.
Solar, wind, and energy storage are set to seeing big changes in the coming years.
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Benefit from an unbundled property loss control program
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