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You are here: Home » Resources » Articles » Project Completion Insurance: Securing Solar Construction Projects

November 13, 2023

Project Completion Insurance: Securing Solar Construction Projects

By Isaac Stern and Gage Kellogg

Project Completion Insurance: Securing Solar Construction Projects

In this article, featured in the North American Clean Energy (NACE) Magazine’s Nov/Dec 2023 Issue,  Isaac Stern and Gage Kellogg explore the complexities of solar construction projects. The authors discuss the rising interest in renewable energy projects and the challenges faced in the current economic climate. They emphasize the role of Project Completion Insurance (PCI) as a powerful tool, providing financial protection for lenders and borrowers. PCI, underwritten by Lloyd’s of London, covers cost overruns in case of borrower default, streamlining processes for lenders and enhancing credit for borrowers. The article highlights PCI’s advantages over traditional surety bonds and other credit enhancement options, making it a game-changer in the renewable energy and storage construction sector.

To read the full article, click to download a [PDF Article] or view the [ Digital NACE Magazine ]

About the Authors

Isaac Stern

Isaac Stern

Executive Director, SureBuild & Director of Entrepreneurial Strategy
A USC MBA graduate, Isaac Stern brings more than twenty years of experience in the insurance and commercial real estate market. Having worked with some of the largest insurance brokerage and consulting firms, Isaac heads up Partner’s entrepreneurial strategy efforts. As Director of Entrepreneurial Strategy, he works to help Partner identify and qualify new investment opportunities. As the Executive Director of SureBuild, Isaac applies his knowledge of the insurance market to support the growth of the construction insurance product, SureBuild. Isaac’s experience performing analytical and managerial responsibilities in the finance and insurance industries provides Partner with unique expertise for their growing business. Rounding out his technical skills and expertise, Isaac is a disciplined, team-oriented problem-solver with well-established relationship management and a passion for the financial and insurance industries.
Gage Kellogg

Gage Kellogg

Managing Director - Renewable Energy
Gage Kellogg brings 30 years of professional experience to the Renewable Energy Group in areas of construction, engineering, project development and financing. For the past 18 years he has been focused on renewable energy and has successfully completed utility and distributed scale photovoltaic (PV), concentrated solar (CSP) battery energy storage systems (“BESS”), EV charging stations, renewable natural gas and waste to energy projects. Over his career he has worked on projects across the Americas, Europe, MENA, India and South Africa. Mr. Kellogg utilizes his prior operational and business development experience in his role at Partner as Managing Director of Renewable Energy Services. He is focused on the provision of renewable energy project due diligence, project development, electrical and civil solar designs, BESS design, EV Charging station designs, Independent Engineering reports, solar consulting, construction risk management services for developers, lending institutions, insurance/contract surety companies, project equity investors, and contractors. Services include contractor evaluations, plan and cost reviews, construction contract reviews, project budgeting, project accounting, project funds control, project takeover and completion work along with a full suite of Owner’s Representative services.

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