SCOR Backs Massive Solar and Storage Project in California
Global reinsurance firm SCOR has announced that it is providing insurance coverage for the Edwards Sanborn Solar and Battery Storage Project in Kern County, California. This facility is one of the largest of its kind in North America. The project, developed by Terra-Gen, a renewable energy company, aligns with SCOR’s focus on supporting sustainable energy efforts.
Construction of the Edwards Sanborn facility began in 2020, spanning over 4,600 acres. Initial phases became operational in 2022 and 2023. In 2024, the project was recognized with the Presidential Federal Sustainability Award for its contribution to carbon-free electricity generation. The facility currently boasts a solar energy capacity of 807 megawatts and a battery storage capacity exceeding three gigawatt-hours.
This capacity allows the facility to supply up to 1,300 megawatts of power to the grid, strengthening California’s renewable energy infrastructure. Future phases of the project are projected to add an additional 2,000 megawatts of solar and energy storage to the California Independent System Operator (CAISO) grid. Upon full completion, the Edwards Sanborn project is expected to deliver up to 3.35 gigawatts of solar storage capacity.
SCOR indicates that its insurance coverage is intended to assist in the development and expansion of the project, which is anticipated to play a crucial role in California’s transition to clean energy. Terra-Gen continues its work on the facility, aiming to enhance the state’s renewable energy capacity while establishing a model for large-scale solar and battery storage projects.
SCOR’s Commitment to Renewable Energy
In prior years, SCOR has actively expanded its involvement in the renewable energy sector through several strategic initiatives. In February 2024, SCOR launched an offshore renewable energy consortium, increasing its total deployable capacity to more than $180 million. Furthermore, in September 2023, the global reinsurer introduced a dedicated new energy practice. This practice offers integrated insurance products and risk management solutions tailored for low-carbon technologies, including wind and solar farms, hydrogen projects, and battery storage systems.
