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Environmental Claims Journal, 21(4):296–312, 2009 Copyright C Taylor & Francis Group, LLC ISSN: 1040-6026 print / 1547-657X online DOI: 10.1080/10406020903361381 Renewable Energy Projects on Contaminated Property: Managing the Risks SUSAN NEUMAN CHRISTOPHER D. HOPKINS ∗ Managing brownfields risks requires complex technical and legal analysis. An- alyzing risks in renewable energy projects is equally complex. Both projects involve several contracts that must be integrated and made consistent with each other. Combining these types of projects creates a unique combination of risks, including, for sites where institutional/engineering controls are part of the rem- edy, risks that will not diminish over time. The best risk management tool is an insurance program that can integrate property and commercial general liability (CGL) coverage for renewable energy risks with manuscripted coverage under a site pollution liability (SPL) policy for brownfield risks. INTRODUCTION The Obama administration’s effort to double renewable energy generation in the United States by 2010 has increased the renewable energy sector’s focus on risk management techniques. 1 Several federal initiatives are anticipated to spur the financing of renewable energy projects. On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 (the Stimulus Law). 2 The Stimulus Law extends production tax credits ∗ Susan Neuman is president of the Environmental Insurance Agency, Inc. (EIA) headquartered in Larch- mont, New York. EIA is a boutique environmental insurance brokerage and risk management company that, since 1997, has specialized in providing environmental insurance and alternative risk transfer (ART) products to facilitate brownfields transactions. Christopher D. Hopkins is in the Business and Real Estate Practice Group with Patton Boggs, LLP in Newark, New Jersey. Mr. Hopkins counsels clients in a broad range of commercial real estate transactions and his experience includes redevelopment, green-building, transit-oriented development, and returning brownfields to beneficial use. Address correspondence to Susan Neuman, Environmental Insurance Agency, Inc., 138 Chatsworth Ave., Larchmont, NY 10538. E-mail: [email protected] 1 It is estimated that renewable energy production will increase 70 percent between 2006 and 2030. See OSWER Cent er for Program Analysis, “Data Guideli nes for ‘Clean and Renewa ble Energy Generation Potential on EPA Tracked Sites,’” http://www.epa.gov/oswercpa/maps/epa tracked sites data guidelines.pdf. 2 PL 111–5. 296 D o w n l o a d e d B y : [ H o p k i n s , C h r i s t o p h e r ] A t : 1 4 : 0 8 1 2 A u g u s t 2 0 1 0

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