REIB introduces new insurance terms for energy storage systems

One of the leading insurance brokers in the renewable energy sector in Southeast Europe, Renewable Energy Insurance Broker (REIB), hosted a dedicated business breakfast focused on Battery Energy Storage Systems (BESS) as a strategic asset for enhancing the security and profitability of energy projects.

Held at Vivacom Art Hall in Sofia, the event brought together investors, financial institutions, insurers, technology providers, and energy consultants to discuss the real risks and emerging opportunities related to BESS deployment in Bulgaria and the wider region.

REIB presented its newly developed Special Terms and Conditions for BESS Insurance, which include coverage for Business Interruption, Cyber Risk, Indirect Lightning Strike, and more. The product has been created in partnership with leading international insurers Allianz and UNIQA, aiming to deliver insurance solutions that meet the security, bankability, and long-term performance requirements of both investors and lenders.

Energy storage is no longer the future – it’s the new reality of the modern energy market. The success of any PV or hybrid project will depend on how well we manage risks and protect revenues,” said Dimitar Dimitrov, Business Development Manager at REIB and moderator of the discussion panel.

The panel featured:

• Rositsa Chopeva, Founder, xFigureFinance;
• Irina Stanimirova, Managing Associate, KDP (Komarevski Dimitrov & Partners);
• Petya Dimova, Head of Power Trading, Enery;
• Elena Pedova, Managing Partner, Evklips Energy.

The speakers discussed practical aspects of investing in BESS, legal and contractual challenges, energy trading mechanisms, and the evolving regulatory landscape in Bulgaria and Southeast Europe.

Key topics addressed during the event included:

• How BESS improves revenue security and operational resilience for energy projects;
• How the Sum Insured for Business Interruption is calculated in case of an incident;
• Project financing and the role of insurance in bankability assessments;
• Market and regulatory context in Bulgaria and the SEE region;
• Battery system operation and revenue generation through BESS;
• Technical considerations in the delivery and installation of battery systems.

The business breakfast concluded with a networking session, where participants exchanged ideas and explored new opportunities for collaboration in the field of renewable energy and energy storage.