By bringing together insurance and renewable finance expertise into one company, Tierra set out from day one to be different. We felt there was a gap in the market for an insurance company that was focused specifically on energy transition projects — one that could respond quickly and intelligently to the needs of clients in this area.
We started from the ground up, building bespoke risk and pricing models that allow us to properly evaluate and rate the transactions that come across our desk. And we built the company with a service ethos that focuses on being responsive and competitive, to help our clients do the same.
From the beginning we felt that in order to be a key partner to our clients, we needed to be open minded to the risks we agreed to accept. With a forward looking view on market trends and issues, we have stayed true to our values as we have grown. Thus, we have been able to build a balanced portfolio that covers most of the major technologies helping to decarbonise the economy, from wind and solar, through battery storage and EV mobility all the way to green hydrogen and ammonia — all at the very cutting edge of the project finance world. And we have absorbed plenty of construction risk and merchant risk on the way.
Our portfolio has been built against a backdrop of the supply chain issues that have continued to plague the economy — a major war in Europe and an energy market that has seen unprecedented volatility in recent months. All headwinds that are temporarily slowing the energy transaction but in our view will not derail the inevitable move towards a greener economy and will in fact, in some cases, accelerate it in the long term.
So we have got off to a great start but Tierra is only just over 12 months old and we still have a lot of work to do to truly make a difference. We know our clients want to finance projects in the energy transition space. We know that many governments around the world are finally starting to ramp up their policy support for all things green. And we know that renewables — the building blocks to the whole energy transition — are now producing the cheapest electricity ever. As a result, the future of this market is bright, as is ours.
Thank you for your continued support,
Andrew Beechey
Managing Director
Oct 2022