We spoke with Delyan Iliev, Managing Director at Renewable Energy Insurance Broker.
At Renewable Energy Insurance Broker (REIB), we view battery storage systems (BESS) not as a niche trend, but as a fundamental pillar of the energy transition. Battery storage allows renewables to reach their full potential — enabling flexibility, improving grid stability, and providing critical backup at times of peak demand. But while the technology is promising, it also introduces new layers of complexity and risk that must be properly understood and managed.
From a risk perspective, battery systems differ greatly from traditional solar or wind projects. They come with their own operational challenges, including fire hazards, thermal runaway events, degradation over time, and evolving regulatory frameworks. These risks aren’t just technical; they’re also financial and reputational. A single incident can jeopardize investor confidence, community trust, and long-term viability.
That’s why REIB has made battery storage a core strategic focus. We’ve developed tailor-made insurance solutions that reflect the specific lifecycle and revenue models of BESS projects. From construction and testing to ongoing operation, we help our clients secure insurance that is both technically sound and financially aligned. Our mission is to reduce uncertainty and help BESS projects become more bankable and secure.
Battery storage is so central to our mission that we’ve gone beyond simply insuring projects — we’ve become directly involved as investors. In September 2024, we launched our own operational projects — a 4MW/8MWh system and a 6MW/12MWh system. These investments reflect our hands-on understanding of the risks and realities of storage development, and our long-term belief in the sector’s role in accelerating the energy transition.
REIB is a Strategic Partner of the Battery Storage Europe Platform — why did you choose to join?
We joined the Battery Storage Europe Platform because we believe in building bridges between technology, finance, and risk. As insurers, we’re not just service providers, we’re strategic enablers. Our role is to help the industry move faster, with confidence and accountability.
The platform is exactly the kind of initiative that Europe needs right now, a space where industry leaders can share insights, set standards, and build trust. We see it as a catalyst for progress. REIB brings deep technical expertise, practical experience from across European markets, and a unique ability to translate complex risks into insurable realities.
Joining as a Strategic Partner allows us to contribute to the development of best practices and to amplify the message that risk management isn’t a barrier, it’s a foundation for growth. We want more developers, asset managers, and investors to see insurance not as a checkbox, but as a tool for resilience and long-term success.
We’re also excited to collaborate with other partners to raise awareness, publish joint insights, and support the acceleration of battery storage across the continent.
Why is battery storage important to Renewable Energy Insurance Broker?
Europe is undergoing a profound energy shift. As renewable energy generation rapidly increases, so does the need for flexibility and stability in the grid. Battery storage is what makes this new system work, it captures excess energy when the sun is shining or the wind is blowing, and releases it when demand peaks or generation drops.
But the benefits of battery storage go far beyond balancing supply and demand. Energy storage systems help unlock the full potential of renewables — they reduce carbon emissions, prevent the loss of generated energy, and limit the need to rely on polluting backup power sources. Battery storage also strengthens energy independence by reducing the need for imported energy and ensuring that the grid can continue operating reliably even during emergencies or supply disruptions.
Europe needs storage not just in large-scale utility projects, but across the board: in industry, mobility, and even in buildings. We need it to support the electrification of everything — from cars to factories, and to give system operators the tools they need to plan and adapt.
The challenge is not just technical, it’s also financial and regulatory. To build confidence in battery storage, we must prove that it’s safe, reliable, and investable. That’s where insurance plays a strategic role: by providing certainty in an uncertain environment. At REIB, we’re proud to help unlock this potential, and the scale speaks for itself: in 2024, whole Europe installed total 21.9 GWh of battery energy storage systems, while REIB insured more than 5 GWh in the first six months of 2025, with projects in Bulgaria, Germany, and the UK.
We support storage growth not only through coverage, but through deep market knowledge and proactive risk management — one project, one partnership, one policy at a time.
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