Descartes and Nextpower Launch Solar Industry's First Integrated Parametric Coverage for Extreme Wind Conditions

Novel integration of site-level wind data enables ultra-low basis risk and rapid liquidity for Nextpower customers worldwide

New York, 10 June 2026 - Descartes Underwriting, the global leader in corporate parametric (re)insurance solutions for climate and emerging risks, has partnered with Nextpower™, a leading provider of solar and power technology solutions for utility-scale power plants, to introduce an integrated parametric insurance solution that uses site-level wind data from Nextpower meteorological stations to help protect solar power plant operators against the economic impact of straight-line wind (SLW) events, one of the most destructive and underinsured perils facing the global solar industry.

The new SLW solution provides up to $80 million (USD) in limits per policy globally and up to $100 million in the U.S. It can also be bundled with Descartes' satellite-based tornado and radar-based hail products to deliver comprehensive protection against severe convective storm (SCS) events. Coverage is available through commercial (re)insurance brokers for eligible Nextpower customers worldwide.

Descartes' climate scientists and natural risk modelers leverage real-time wind speed data captured directly by Nextpower's integrated meteorological stations, installed across all Nextpower sites. By anchoring parametric triggers to on-site measurements, the solution is designed to reduce basis risk and help align payouts more closely with site-level wind conditions. The collaboration reflects the growing role of project-specific data in solar risk management to deliver greater precision, transparency, and responsiveness for severe weather coverage.

Nextpower tracking systems have demonstrated world-class wind resilience and durability across utility-scale solar deployments and are engineered to help projects withstand severe site conditions. The Descartes coverage is designed to complement that resilience by providing an additional financial backstop for covered SLW events that exceed expected operating conditions or create significant economic impact for project owners and operators.

With this novel integrated solution, solar power plant owners and operators with Nextpower systems gain a significant financial safeguard against damaging wind events. Its parametric structure delivers swift payouts following covered events, helping operators accelerate reconstruction and maintain business continuity following damaging SCS events. Beyond physical repairs, the coverage is engineered to help operators manage broader financial pressures, including PPA obligations, debt servicing, and tax equity stability.

Daniel Vetter, Head of Americas at Descartes, said: "We're thrilled to partner with Nextpower to bring this next-generation SLW solution to solar operators around the world. As the global solar PV market accelerates toward an expected $700 billion valuation by 2035, developers are increasingly building in regions where severe convective storms are both frequent and intense. By combining our advanced parametric modeling capabilities with Nextpower's on-site wind data, we are delivering a level of coverage precision and responsiveness that the industry has not previously had access to. This partnership reflects our commitment to supporting the resilience of critical renewable infrastructure in the global energy transition economy."

Andrew Griffiths, Vice President, Asset Management at Nextpower, said: "This partnership reflects our commitment to delivering intelligent solar energy infrastructure that not only performs in the field, but also strengthens long-term project resilience. As severe weather risks intensify, solar operators need faster, more precise ways to protect project economics and keep critical clean energy assets online. By integrating wind measurements from Nextpower's on-site meteorological stations with Descartes' parametric coverage, we are helping customers reduce uncertainty after straight-line wind events, access liquidity, and accelerate the path to recovery." 

Press Contacts

Descartes Underwriting

Marie-Anne Faidy, Chief of Staff

[email protected]

[email protected] Nextpower, Inc.

Brandy Lee, Director of Corporate Communications

[email protected]

About Descartes

Descartes is a corporate (re)insurance specialist that collaborates with brokers to protect their corporate and public sector clients against climate and emerging risks. At the forefront of AI and data analysis, Descartes utilizes cutting-edge technology combined with a new generation of data sources to model, assess, and manage risks. Offering a full range of insurance products, including cost-effective and fully transparent parametric solutions with predefined and swift claims payouts, Descartes has already provided over $15 billion of capacity to its clients through corporate brokers. With a global footprint and strong U.S. presence, Descartes serves a diverse portfolio of clients in more than 60 countries, with 20+ offices spread across Europe, Asia-Pacific, Latam, and North America. Descartes comprises Descartes Insurance, a full-stack insurer operating in several European countries, and Descartes Underwriting, a global MGA backed by a panel of tier-one risk carriers. The company has been financed with over $141M by investors including Highland Europe, BlackFin, Serena, Cathay, Eurazeo, and Battery Ventures. descartesunderwriting.com

About Nextpower

Nextpower™ (Nasdaq: NXT) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world's leading energy companies to power what's next. nextpower.com