Shared grid connections concentrate battery insurance risk

Shared grid connections at co-located solar-plus-storage sites are concentrating insured revenue into a growing risk for BESS insurers, said Olly Litterick, head of renewables at TMGX, a green transformation underwriting business that Japan's Tokio Marine group launched in 2025. Such projects now carry "hundreds of millions of dollars or even billions of dollars of exposure in a single location where multiple insureds share grid connection points," he said. Because TMGX covers loss of revenue resulting from physical damage, a failure at a shared export point can affect several insured projects ...

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