Astronergy and Munich Re Announce Agreement on crystalline PV Module Insurance
Astronergy (Chint Solar) today announced that they have signed an agreement and insurance with Munich Re, one of the world’s leading reinsurers. This agreement will cover all crystalline PV-Modules sold by Astronergy (Chint Solar) as of January 1st 2011 and will back up the performance warranties provided by Astronergy against excessive power loss within the next 25 years. This announcement follows prior collaboration in 2010 – the new contract covers the entire 2011 and 2012 production volume of Astronergy Solar.
At this stage, Astronergy is the first module manufacturer with operations in mainland China to publically announce it has achieved Munich Re’s confidence in its quality and reliability.
“The best way to protect the investment on PV systems is by choosing the strongest and most reliable partners for our PV modules. Since Astronergy’s founding, quality has been our top priority. Having our modules’ quality recognized by Munich Re is the result of extensive long-term efforts and continuous improvement, and we are looking forward to maximizing our customers’ benefits through this service,” commented Dr. Liyou Yang, CEO of Astronergy.
"After the initial year of cooperation, we are happy to continue our collaboration agreement with Astronergy and its parent company, the Chint Group. We believe that in a highly competitive market, Munich Re, with its unique performance guarantee cover for PV module producers, can bring essential value to both Astronergy and its customers," said Jan Napiórkowski, a risk analyst at Munich Re responsible for Asian renewable-energy markets.