Paratus Holdings has expanded its commercial operations to include renewable power price insurance, a statement released yesterday (17 January 2024) said. The firm’s new insurance offering aims to protect producers and consumers of renewable power and transition fuels from energy price risks. Chief executive and founder Gus Majed said that “while the energy transition presents significant opportunities, complex risk management challenges remain”. “Paratus began with a simple belief that there must be a better way for industry to protect against energy price volatility,” he added. “Our proprietary insurance-based risk management product materially improves returns compared to traditional alternatives.”Strategy advancementParatus’ move into covering energy price risk follows the firm receiving investment from Ara Partners, which specialises in industrial decarbonisation investments.

Source: The Times January 18, 2024 20:35 UTC