Shepherd Binds $10M Excess on NJ Data Center Fuel Cell Asset for a Repeat Energy Client with Alliant
The client and the project
The insured is a private equity-backed developer of distributed power generation assets. This placement covers a single-site fuel cell installation in New Jersey situated next to the data center it serves. It was Shepherd's second placement for this client.
About the placement
The technology itself was the easier part of the underwriting: a single New Jersey site with limited third party exposure and an established fuel cell platform with a strong operating history.
Shepherd already held a companion asset portfolio for the same insured, placed through the same broker, so the second submission arrived at a market that already understood the owner, the technology and the structure well.
How Alliant brought it together
Alliant's San Francisco office brought the submission to Shepherd's Renewable Energy & Power team on the strength of the first placement. The client and the structure were known quantities going in, which narrowed the underwriting question considerably.
What Shepherd did on this placement & the outcome
Shepherd wrote the $10M Excess Casualty attaching above a $10M Umbrella. The policy bound in June, alongside the client's other Shepherd-placed asset.
Shepherd's real advantage on this account was continuity. The client now holds two assets with Shepherd placed through the same broker. Shepherd's RE&P team expects dedicated power generation built specifically to serve data centers to become a much larger share of the book, and this insured is positioned to bring the next one back to the same market.
