Bermuda-based Nephila Capital has provided the risk transfer capacity for a wind variability hedge at New York State’s first community-owned wind farm, Black Oak Wind Farm.
The project is currently raising finance, targeting New York residents and companies.
It sought a hedge against the financial risks posed by weather variability which could smooth earnings volatility. Nephila Capital has provided a weather risk management product that allows Black Oak to transfer the risk of lower than expected wind volumes or wind performance.
Nephila worked with REsurety to structure the wind hedge, a firm that provides proprietary technology and analytics for such deals.
12 April 2024 Fidelis chief of staff and former broker Hannah Greenwood willingness to seek out new opportunities has helped her progress through the industry.