Renew Risk
Catastrophe risk modelling software for renewable energy infrastructure
Overview
Renew Risk is a catastrophe risk modelling platform for the renewable energy insurance and reinsurance market. Founded in 2021 and based in London, the company provides science-driven software that quantifies financial loss exposure from natural disasters affecting renewable energy assets, including offshore and onshore wind farms, solar installations, and interconnectors. Its primary customers are insurers, reinsurers, brokers, project developers, and financiers who underwrite or invest in renewable energy infrastructure.
The platform delivers purpose-built catastrophe models covering windstorm, severe convective storm, and other natural hazard perils specific to renewable assets. Models are delivered as a SaaS platform and via API, with integration into third-party risk modelling environments. The company's development process produces new models in approximately nine months, compared to a multi-year cycle for traditional catastrophe modelling vendors.
Renew Risk raised a GBP 5M Series A in February 2025 led by Molten Ventures, following a USD 2.12M seed round in 2023, for total funding of approximately USD 7.45M. The company is an alumnus of Lloyd's Lab and has integrated its models into Nasdaq's Risk Modelling platform. Confirmed customers include GCube Insurance.
Products & Services
UK & Ireland Windstorm Model (UKWS)
Catastrophe model for offshore wind farms in UK and Irish waters. Incorporates at-sea wind speed data, extreme wave impacts, and asset-level detail covering turbines, cables, and substations. Includes forward-looking exposure projections through 2032.
Key Features
- Offshore-specific wind and wave hazard modelling
- Asset-level detail for turbines, cables, and substations
- Forward-looking projections to 2032
Target Users: Insurers, reinsurers, developers, banks, and planners with offshore wind exposure in UK and Irish waters
European Windstorm Model (EUWS)
Launched April 2026, this catastrophe model extends offshore wind risk assessment to European waters beyond the UK. Purpose-built for offshore wind farms, it is the first such model for continental European regions.
Key Features
- Purpose-built for European offshore wind farms
- First catastrophe model for these European offshore regions
- Designed for insurer and reinsurer underwriting workflows
Target Users: Insurers and reinsurers underwriting European offshore wind portfolios
US Solar Catastrophe Model
Launched May 2026, this model addresses severe convective storm (SCS) risk for utility-scale solar assets in the United States. Research indicates hail represents approximately 6% of loss incidents but accounts for 73% of total financial losses for solar projects.
Key Features
- Quantifies financial loss from hail, tornadoes, and wind events
- Utility-scale solar portfolio assessment
- Addresses the most significant financial loss driver (hail) for solar assets
Target Users: Insurers, reinsurers, developers, and asset managers with US solar exposure
Risk Engineering Reports
Physical and catastrophe risk assessment documentation for individual renewable energy assets or portfolios.
Key Features
- Site-specific catastrophe hazard analysis
- Structured reporting for underwriting and financing decisions
Target Users: Underwriters, project finance teams, and developers
At a Glance
- Founded
- 2021
- Headquarters
- London, UK
- Employees
- 11-50
- Funding
- Series A
Category & Focus
- Category
- Reinsurance Technology
- Subcategories
- Catastrophe Modelling Risk Analytics
- Insurance Verticals
- Specialty/E&S Reinsurance
- Target Customers
- Carriers, Reinsurers, Brokers, MGAs/MGUs
Customers
- GCube Insurance
Links
Last updated: 2026-06-08