SOLARPOWER

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THE LATEST TECHNOLOGY

AN EMERGING RISK PROFILE

RISK MANAGEMENTEXCELLENCE

THE WILLISRENEWABLE ENERGY ANDSOLAR CONSTRUCTION TEAMS

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THE SUN ISRISING ON THESOLAR POWERALTERNATIVESatisfying an ever-growing demand for electricityand protecting air quality to minimize globalwarming are dual imperatives that are not alwayscompatible. Renewable energy sources are anobvious answer. While wind power has long beenthe favored renewable source, new technologicaldevelopments have set the stage for a major pushtoward the solar option.

With advances in solar heat engines and photovoltaic processes,solar is becoming a major source of electricity on both a distributedand commercial basis. The U.S. government has recognized the riseof solar with the recent adoption of a tax credit scheme to encouragedevelopment in the solar industry.

Risks of course remain – a highly complex and specialized set ofrisks. To meet the risk management needs of the organizationsleading the solar charge, Willis has established a dedicatedRenewable Energy Team comprised of experts from across ourglobal company. The new team builds on a long-standing position ofleadership in the energy sector. We have a wealth of experience withsolar providers, ranging from companies installing domestic solarphotovoltaic panels to large commercial electric production plantsutilizing major solar concentration equipment to produce enoughelectricity to power hundreds of homes and businesses. Ourrenewable energy experts are steeped in technologies such asphotovoltaics, solar troughs, parabolic dishes and solar powertowers. We have provided insurance solutions for every stage of thesolar generation cycle, from construction to plant operation.

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SOLARCONSTRUCTIONAND INSTALLATIONLarge solar projects are challenging in part because of their sheersize, usually remote locations and because they frequentlyencompass multiple contracting parties. Willis works with theproject principals to ensure their broad insurance programprovides effective and efficient protection to all parties involved.This is usually accomplished through an owner-controlledinsurance program (OCIP) tailored to meet the project’s specificneeds at the lowest reasonable cost. As the world’s leadingconstruction broker, Willis is arguably the leader in establishingOCIPs and CCIPs (contract-controlled insurance programs) andshaping them to suit the contractual arrangements between theprincipal parties.

THE WILLIS SOLARCONSTRUCTION TEAMA subset of the Renewable Energy Team, the Willis Solar Construction Team encompasses more than 30professionals, ranging from engineering experts to brokers. Our team is global, gathering resources in NorthAmerica, London, Bermuda, Europe and Asia. The team offers services from initial risk identification throughthe construction phase, including the handover to operation as the plants complete testing andcommissioning. Each part of the process has distinct risk management and brokerage requirements.

Offering truly comprehensive risk management services requires resources beyond the construction team.Supporting the team are experts from our Utility and Energy practices, as well as resources in the traditionalinsurance product lines one would associate with a solar construction project: Property, Casualty,Construction, Political Risks and Environmental. Your Willis team may further expand to include specialists instructured risk and reinsurance as needed.

Our Willis team:� Provides knowledge and expertise on solar technology� Provides expert support in the understanding of your business and risk profile� Provides contract review services� Assists in developing tailored insurance contracts, including policy contract wordings analysis and

development of endorsement wording� Assists in developing alternative risk solutions� Possesses knowledge of market capacity and underwriting philosophy� Maintains regular interaction with underwriters to determine trends and rate movements� Possesses experience in large claims settlements

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A PLATFORM FOR SUCCESSThe broad knowledge base and skill sets provided by our practice groups, combined with theWillis businessmodel, result in a clear differentiation between our service offerings and those available in the marketplace.

� Your Willis Client Advocate® offers you a central point of contact for all your insurance and riskmanagement needs. A Client Advocate’s job is to understand your business with the goal ofprotecting both the physical assets of your balance sheet and the liabilities you assume in your day-to-day business. Whatever your question, your Client Advocate is the place to start.

� Through our Glocal service not only are we nearby, but we bring resources from wherever they arelocated in Willis right to your doorstep.

� Our One Flag culture integrates Willis knowledge and personnel into a true team rather than simplya collection of resources.

� We have unmatched credibility in the global construction marketplace, a reputation built onexperience, knowledge, flexibility and performance. Likewise, we have a worldwide reputation in theoperational marketplace. We forge strong relationships and are instrumental in developing new andexclusive products.

� We understand current international insurance and reinsurance markets and are able to negotiatewith insurers and reinsurers at the highest levels from a position of strength to achieve the mostcompetitive premiums and the broadest covers.

� We offer established expertise in all aspects of OCIP and ongoing operational programs.

� We engage a dedicated security rating resource to scrutinize the insurance and reinsurancemarkets on a consistent basis, further improving our marketing efforts.

� We provide engineering services to help identify and reduce exposure to loss.

� We offer a committed claim handling service that helps deliver results from the global insuranceand reinsurance markets.

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OUR PRODUCTSOur principal products include:

� Construction/Engineering All Risks� Advance Loss of Profits/Delay in Start-Up� Casualty Wrap-Up Programs� Surety� Property Insurance� Business Interruption� Liability Insurance� Contractors Annual Programs� Professional Indemnity� Pollution & Environmental� Bonds and Surety� Marine Transit� Marine Delay in Start-Up� Political Risks

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TAILOREDSERVICES FOROWNERS ANDCONTRACTORSA comprehensive risk management solution requires service atevery step of the way, from risk identification to claim support.

RISK IDENTIFICATIONAND ANALYSIS

We identify risks that could adversely affect completion of aproject on time, on budget or to specification. We indemnify theinsurability of those risks, advise on risk retention and prepare anoutline of insurance solutions to the parties involved to optimizethe final degree of risk retention, mitigation and transfer.

CONTRACT REVIEWAND DRAFTING OF RISKPROVISIONS

We advise on appropriate revisions to insurance-relatedindemnity provisions contained in commercial contracts.Insurance summaries or draft wordings are available to assist youwith commercial contract negotiations. During the developmentphase of a project, review of the contractual obligationscontained under engineering, procurement and construction(EPC) contracts, suppliers’ contracts, manufacturers’ warrantycontracts, etc. is critical. Likewise, once the project is operationalwe provide ongoing contract review as needed.

PRODUCTION OFUNDERWRITINGPRESENTATIONS

Our underwriting presentations are thorough, accurate andprofessionally conducted. We spend time with the client and, ifappropriate, members of the project team, in order tounderstand all of the risk management and control featuresimplemented. This ensures that each risk attracts the attentionit deserves in the insurance market.

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LIAISON WITH LENDERS

We are experts in providing services for projects where structuredfinance is employed and where lending is on a non-recourse orlimited-recourse basis. We offer expert advice on both the value ofcoverage requirements being set by lenders and the impact of loancovenants imposed by lenders.

DESIGN OF TAILOREDPOLICY WORDINGS

We design policies around your needs, including protection of yourkey assets, liabilities and financial exposures.

MARKETING OF RISKS

Our preeminent position in the worldwide construction insurancemarket allows us to keep you fully up to speed on marketdevelopments. It also allows us to assess the scope and availability ofcoverage from insurance markets globally and to optimally negotiateexclusive capacity.

MARKETS

Several markets offer insurance for renewable energy power plantconstruction and operational projects. These insurers includemutual insurers involved in a broad range of energy-based exposures,and conventional investor-owned insurers with an appetite forrenewable energy construction programs.

The key to selecting the right insurers is to identify those companiesthat have three qualifications:

� An appetite for the class of business� The expertise to fully analyze the risk� The financial security to handle a risk

exposure that will stretch over amultiyear period

We work with our clients to assist them indeciding which insurers to partner with tosecure the most advantageous constructioninsurance program.

CLAIMSYou buy insurance to protect against theunexpected losses that can have a severeimpact on your balance sheet or on the lendersfinancing the project. Our vast experienceenables us to be intimately familiar with thetypical loss experience at all power generationconstruction projects, including renewablesource projects. Our claim managementexperts are an integral part of our clientservicing team, playing an active role indesigning claim procedures, establishingpolicy liability, and negotiating quantum withinsurers leading to claim settlements.

This coordinated approach ensures that whena loss does occur all parties are fully aware ofpolicy issues. Early involvement of the claimteam facilitates efficient loss notification andadjustment, leading to prompt and fairsettlement of claims. This helps minimize anydelays in project completion and the adversefinancial consequences these may bring.

CONTACTFor additional information, pleasecontact your local Willis representativeor:

NORTH AMERICA

David ScottWillis Utilities Practice Leader+1 610 254 7451david.scott@willis.com

Paul BeckerWillis Construction Practice Leader+1 615 872 3464paul.becker@willis.com

Ayesha NavarroWillis Canada+1 416 646 8353ayesha.navarro@willis.com

EUROPE

Michael BuckleWillis Global Markets International+44 (0) 203 124 6531michael.buckle@willis.com

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