Origin Surety launches Innovative Decommissioning Bond Program

No Cash Collateral and Project Level Indemnity only simplifies Decommissioning Bond procurement

EL SEGUNDO, Calif., March 11, 2025 /PRNewswire/ -- Origin Surety Insurance Services, LLC ("Origin Surety"), an insurance agency specializing in surety brokerage services for the renewable energy industry, is excited to announce the launch of their nationwide decommissioning bond program in partnership with Propeller.

The Origin Surety decommissioning bond program allows clients the ability to satisfy security requirements for their decommissioning obligations by utilizing surety bonds instead of a letter of credit or cash deposit. The offering provides project owners and operators a simplified process when seeking surety capacity by only requiring the indemnity of the project level asset and no cash collateral. This innovative product allows the client the ability to ensure no cross collaterization between assets and projects exist and liability is contained specifically to the project itself, and save precious development capital.

"We understand the needs of our renewable energy clients," said Joseph Tinana, VP of Origin Surety.  "By limiting indemnification exposure to the project level only, and eliminating cash collateral requirements, we are providing a unique and flexible solution to our clients that seek ease of bond issuance and capital efficiency.  By using surety bonds, our clients are able to invest their capital more efficiently by freeing up debt facilities or cash deposits used to secure these obligations or used as collateral."

The Origin Surety decommissioning bond project offering is Origin Surety's first step towards streamlining the broader bonding process and adapting surety offerings to the renewable energy market. Origin Surety's aim is to provide compelling solutions and services for its clients propelling the renewable energy industry forward in a meaningful way. .

"By focusing on project level indemnification and the elimination of cash collateral, we are aiming to increase utilization and flexibility to ultimately broaden the use case for surety bonds across the industry" said TJ Valet, SVP of Origin Surety.

About Origin Surety Insurance Services

Origin Surety Insurance Services, an insurance agency that specializes in innovative surety bond solutions and program management for the renewable energy sector. Origin Surety is headquartered in El Segundo, CA. For more information, visit www.originsurety.com.

SOURCE Origin Surety Insurance Services, LLC.