GCube secures USD 175m for biomass, geothermal insurance

Sep 6, 2012 - GCube Insurance Services Inc, a provider of insurance for green energy technologies, said today it had obtained USD 175 million (EUR 139m) in additional construction underwriting capacity for the biomass and geothermal energy sector.

The company explained that demand for insurance services was growing as equipment and technology were becoming more and more complex as a result of the expansion of the biomass energy industry.

"With international developers and investors keen to capitalize on national government incentives, we expect significant growth within [the biomass and geothermal] markets throughout 2013," commented president John McLane.

GCube provides insurance services to wind, solar, biofuel, biomass, geothermal, wave, tidal and hydropower projects globally.

(USD 1 = EUR 0.793)

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