Energetic Capital, the US-based specialist in credit insurance solutions for clean energy and infrastructure projects, has renewed its agreement with global reinsurer SCOR, expanding its long-term partnership supporting the company’s core credit insurance platform.
The latest renewal marks the seventh consecutive extension of the arrangement between the two companies, which includes an increase in single-obligor maximum limits and additional underwriting capacity.
Energetic Capital said that as financing needs continue to grow across the industry, the renewed agreement with SCOR is expected to enhance its ability to support a wider range of distributed energy and infrastructure transactions.
“Energetic Capital has consistently demonstrated strong underwriting discipline and portfolio performance over the years,” commented Oliver Posgate, global head of political and credit risk at SCOR Business Solutions. “As demand for critical infrastructure accelerates, we are pleased to continue our partnership and support their next phase of growth.”
In addition to the renewed SCOR agreement, Energetic Capital also confirmed that it has secured additional underwriting capacity from the Lloyd’s market through its recently launched OAK Horizon strategic business unit, which is led by OAK Global’s Syndicate 2843.
“We see an excellent opportunity to deploy re/insurance capabilities through the Energetic Capital underwriting platform,” added Tom Dickson, chief underwriting officer at OAK Horizon and president of innovation strategy at OAK Global. “We are pleased to partner with the Energetic team on the Lloyds line slip, which provides a scalable structure to support a growing and increasingly diverse pipeline of infrastructure transactions.”
Energetic Capital said the combined facility will expand the company’s underwriting coverage in the infrastructure and distributed energy markets, while also expanding the risk categories supported through its platform.
The company added that it has facilitated more than $1.5 billion in transactions to date across 1,500 projects in 48 U.S. states, helping to finance critical infrastructure projects and improve access to capital for a variety of counterparties.
“This milestone reflects the strength of our existing partnerships and the expansion of our platform,” said Nathan Maggiotto, CEO of Energetic Capital. “With continued support from SCOR and new capacity from Lloyd’s led by OAK Global, we are well-positioned to expand underwriting and bring flexible solutions to a broader range of infrastructure opportunities.”
Energetic Capital said the expanded mandate and additional capacity will support further growth of its existing business lines, while also enabling the company to explore opportunities in related areas through its data-led underwriting approach and specialized channels into the insurance market.