The Growing Cyber Threat To Renewable Energy

Cyber attacks such as ransomware and denial-of-service remain significantly under-reported in the renewable energy industry.

This has recently added to the already significant demand for non-damage cyber risk insurance product as increasing numbers of firms seek to mitigate their potential exposure to business interruption and other cyber losses. 

The emergence of Covid-19 has led to an unprecedented lockdown worldwide, leading many renewable energy companies to take advantage of remote monitoring systems and working practices to try and ensure ‘business as usual’ despite the disruption.

Yet there have been recent high-profile examples in the UK, the US and Portugal, which have provided additional public demonstration of the need for asset owners to invest in cyber insurance products which can provide financial cover in these ‘non-physical damage’ events.

A spokesman at specialist insurance firm GCube, said: “Digitalisation of course drives significant efficiency gains for businesses and is now a necessity for renewable energy companies looking to maintain continuity during the Covid-19 pandemic....But with portfolios now at greater risk of cyber-attacks, we are seeing even greater demand for our cyber insurance product as project owners are increasingly realising the very real threat that cyber-attacks pose.”

Numerous businesses have approached GCube in recent weeks seeking a means to mitigate their financial exposure to cyber-attack. These include wind projects owned by leading firms such as Eolenerg and Molly Wind Ltd, who have either procured the coverage outright or included the product as part of their insurance renewal.

GCube’s research suggests that though cyber attacks are estimated to be responsible for over $3trn in losses annually, and are set to rise, the cyber insurance market last year was only worth approximately $5bn, with many insurers not yet providing cyber cover.

GCube Insurance:    Renewable Energy Magazine:   Wind Power Monthly

You Might Also Read: 

Cyber Threats Are The Top Insurance Risk:

 

« British Telcos Will Be Told To Strip Huawei Out Of Their Networks
Cyber Warfare, Intelligence & Malware »

Infosecurity Europe
CyberSecurity Jobsite
Perimeter 81

Directory of Suppliers

CYRIN

CYRIN

CYRIN® Cyber Range. Real Tools, Real Attacks, Real Scenarios. See why leading educational institutions and companies in the U.S. have begun to adopt the CYRIN® system.

Infosecurity Europe, 3-5 June 2025, ExCel London

Infosecurity Europe, 3-5 June 2025, ExCel London

This year, Infosecurity Europe marks 30 years of bringing the global cybersecurity community together to further our joint mission of Building a Safer Cyber World.

Practice Labs

Practice Labs

Practice Labs is an IT competency hub, where live-lab environments give access to real equipment for hands-on practice of essential cybersecurity skills.

Resecurity

Resecurity

Resecurity is a cybersecurity company that delivers a unified platform for endpoint protection, risk management, and cyber threat intelligence.

DigitalStakeout

DigitalStakeout

DigitalStakeout enables cyber security professionals to reduce cyber risk to their organization with proactive security solutions, providing immediate improvement in security posture and ROI.

Kaseya

Kaseya

Kaseya is a premier provider of unified IT management and security software for managed service providers (MSPs) and small to medium-sized businesses (SMBS).

CERT-EU

CERT-EU

CERT-EU is a permanent Computer Emergency Response Team for the EU institutions, agencies and bodies.

Bundesdruckerei

Bundesdruckerei

Bundesdruckerei specializes in secure identity technologies and services for protecting sensitive data, communications and infrastructures.

Untangle

Untangle

Untangle provides network security products designed specifically for the below-enterprise market, safeguarding businesses, home offices, nonprofits, schools and governmental organizations.

Cryptovision

Cryptovision

Cryptovision GmbH is one of the leading specialists for modern, user-friendly cryptography and solutions for secure electronic identities.

Cyber Security Challenge UK

Cyber Security Challenge UK

Cyber Security Challenge UK is a series of national competitions, learning programmes, and networking initiatives designed to identify, inspire and enable more people to become cybersec professionals.

Dreamlab Technologies

Dreamlab Technologies

Over the last 20 years, Dreamlab Technologies has established itself as a source of constant innovation within the information security landscape.

Aspen Insurance

Aspen Insurance

Aspen is a leading diversified specialty insurance and reinsurance company. Products offered include cyber insurance.

Rentalworks

Rentalworks

Rentalworks is a leading provider of Internet-of-Things (IoT) Asset Lifecycle Management Services including secure data erasure and disposal.

Orca Security

Orca Security

Orca Security delivers full stack visibility including prioritized alerts to vulnerabilities, compromises, misconfigurations, and more across your entire inventory on all your cloud accounts.

Avancer Corporation

Avancer Corporation

Avancer Corporation is a multi-system integrator focusing on Identity and Access Management (IAM) Technology. Founded in 2004.

senhasegura

senhasegura

senhasegura is a global Privileged Access Management vendor. Our mission is to eliminate privilege abuse in organizations around the globe and build digital sovereignty.

Cyware

Cyware

Cyware is the only company building Virtual Cyber Fusion Centers enabling end-to-end threat intelligence automation, sharing, and unprecedented threat response for organizations globally.

ITUS Secure Technologies

ITUS Secure Technologies

ITUS offer fully outsourced cybersecurity solutions working with leading security vendors, providing next-gen solutions.

Modat

Modat

Modat is an AI-powered, research-driven company focused on developing products and services that enable cybersecurity professionals to outpace adversaries.

Harmony Intelligence

Harmony Intelligence

Harmony builds cutting-edge defensive AI products that safeguard people and critical infrastructure around the world from AI-powered threats.