The Ministry of Economy and Finance is the sole shareholder of GSE, a company involved in the development of renewable energy sources in Italy, particularly through the provision of subsidies for the production of electricity.<\/p>\n
It manages the incentives for renewable energies, particularly for photovoltaic systems, biofuels, gasifiers, biomass, and the issuance of certificates for existing plants on Italian territory.<\/p>\n
The tenders issued by GSE include the construction of renewable energy plants or the management of these plants. Since 2013, GSE tenders require the issuance of a provisional and a definitive surety, which include a clause making them “standalone guarantee contracts.” A standalone guarantee contract is an agreement in which a party undertakes to guarantee the fulfillment of an obligation towards the creditor, excluding the guarantor’s ability to oppose the creditor with the defenses normally available to the principal debtor.<\/p>\n
In practice, the insurance company, in the event of a claim, must pay without being able to raise any objections, even if the request may seem unwarranted.<\/p>\n
This clause excludes the main Italian and European insurers.<\/p>\n
We have the solution with an Italian company.<\/p>\n
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