Power Plant Sues Insurers For £52M After Opening Delay

Law360, London (January 14, 2021, 2:54 PM GMT) -- Six underwriters are facing a claim of more than £51.5 million ($70.1 million) in lost revenues after major structural faults were discovered at a renewable energy power plant, delaying the opening.

Port Clarence Energy Ltd. filed its lawsuit at the High Court on Jan. 8 after the insurers — which include Royal & Sun Alliance Insurance PLC and Swiss Re — allegedly refused to pay out on their claim for financial losses incurred when construction problems severely hindered work on the site.

Port Clarence, described in the claim as a special purpose vehicle set up to develop and manage the wood-burning...

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