Combined Marine and Construction Allrisk Insurance for HV/DC Grid Connection Systems North Sea Connector 1 and North Sea Connector 2 (Primary Policy)

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Procurement of Combined Marine and Construction Allrisk Insurance for HV/DC Grid Connection Systems North Sea Connector 1 and North Sea Connector 2 The Grid Connection systems (North Sea Connector 1 and North Sea Connector 2) each consisting of Offshore Converter incl. auxiliary equipment, 525kV 2 GW DC offshore cable systems to DC Converter Onshore at Nordhub / Heidehub on German mainland, 525kV 2 GW DC onshore cable systems from KAS to Onshore Converter and onshore Converter Station incl. auxiliary equipment. The Onshore Converters at Nordhub / Heidehub and 525kV 2 GW DC onshore cable systems from Nordhub / Heidehub to KAS (cable section station) are not part of this tender. These assets are part of TenneT’s project share and will be insured by them. Insured Interest: ‘All Risks’ of physical loss or physical damage in respect of the North Sea Connector 1 and North Sea Connector 2 projects plus removal of Wreck, Debris and Sue & Labour and other coverage as per wording. Insurance policy wording will grant seamless transition from Marine- to Construction Allrisk Insurance. Inception of insurance cover will be with start of first construction works estimated in Q2 2027. The insurance period will end with final taking-over of the whole project estimated in 2033, followed by 24 months of Extended Maintenance. Key facts of tendered Coverage: Combined Marine and Construction Allrisk Insurance for HV/DC Grid Connection Systems North Sea Connector 1 and North Sea Connector 2 with a total insurable value of approx. 9,8 billion EUR (Primary Policy). For North Sea Connector 1 and North Sea Connector 2, separate policies are required with Single Loss Limit 800,000,000 EUR for each project (not cumulative).