Sep 24, 2025   SOURCE: BusinessWire

New Energy Risk Announces First Tax Credit Insurance Transaction

New Energy Risk (“NER”), a specialist in technology performance insurance with more than a decade of experience underwriting complex technology projects, today announced its first tax credit insurance transaction.

In partnership with the Tax Insurance brokerage group at Alliant Insurance Services (“Alliant”), NER has bound its first tax credit insurance policy in support of a utility-scale solar project in Texas. The facility will provide clean electricity capacity to support a large data center, part of a growing number of renewable energy projects designed to meet the burgeoning power needs of U.S. data centers while aligning with corporate clean-energy directives.

“We are extremely pleased to announce our first participation in a tax credit insurance transaction. This success reflects months of dedicated effort and a logical extension of NER’s capabilities in supporting the clean energy industry,” said George Schulz, CEO of NER. “We appreciate Alliant for their leadership on this transaction and our insurance partners for their continued support of NER’s work to deliver innovative, large-scale performance insurance solutions for breakthrough technologies.”

“Alliant is pleased to welcome NER into the tax insurance market and extends our sincere appreciation for the valuable support they provided to both our firm and our client,” said Dan Schoenberg, Executive Vice President of Alliant Mergers & Acquisitions. “We look forward to strengthening our collaboration with NER and their insurance partners in the years ahead.”

With this transaction, NER plans to deliver much-needed capacity to the tax credit insurance market by combining its tax and technology underwriting expertise to offer comprehensive insurance solutions that address the technology-related risk elements of tax credit transactions, particularly those involving Section 45 and Section 48 credits.

Tax credits have long been a cornerstone of clean energy development. The Inflation Reduction Act of 2022 enhanced their role by enabling transferability of credits and significantly expanding the pool of capital for renewable energy projects – creating greater demand for insurance to support these transactions. In 2025, the One Big Beautiful Bill Act introduced sweeping changes but ultimately preserved tax credits as a mechanism for financing critical infrastructure, albeit with shorter timelines for certain renewable energy projects.

“With the passage of the One Big Beautiful Bill Act, as well as subsequent IRS guidance, administrative uncertainty surrounding the transition tax credit landscape has eased. In the coming years, tax credits will remain available to finance a wide range of clean energy solutions, including emerging technologies,” said Kevin Broich, Executive Underwriter for Tax at NER. “NER is building a platform to support the rapidly expanding demand for insurance and the need to demonstrate and scale innovative technology solutions.”

This transaction extends NER’s role as a trusted partner to clean energy developers and financiers, demonstrating the company’s ability to combine technology performance expertise with innovative risk-transfer solutions. By applying its underwriting platform to the tax credit market, NER is furthering its mission to enable investment in breakthrough technologies and accelerate the clean energy transition. For more information on New Energy Risk, please visit newenergyrisk.com.

About New Energy Risk:

New Energy Risk is a pioneer of large-scale, breakthrough technology performance insurance solutions. The company provides complex risk assessment and serves as a bridge between technology innovators, financiers, and insurers. Insurance policies are administered through New Energy Risk affiliate Complex Risk and Insurance Associates, LLC, CA License #0I24307. Learn more: newenergyrisk.com.

About Paragon:

Paragon Insurance Holdings, LLC, formed in 2014, writes all commercial lines of insurance across more than 20 programs. Paragon’s industry-specific and general underwriting facilities offer insureds, retail agents, carriers, reinsurers and service providers unique product, service, capability, and results. Learn more: paragoninsgroup.com.