Munich Re Solar Warranty Insurance

In the event of the manufacturer s insolvency the policy is seamlessly transferred to the.

Munich re solar warranty insurance.

Hsb energy shortfall insurance helps facilitate financing for distributed generation projects by assuming the risk of technological underperformance from the developer financier or investor. The first customer for the new insurance product is the us battery manufacturer ess inc. The warranty partner has bought insurance capacity for at least 100 mwp per year which is reinsured by munich re. Ess produces stationary battery modules that allow energy from solar parks and network operators to be stored over long periods.

Reliable pv warranty insurance a key feature of bankable pv modules the warranty risk of solar. The warranty partner is entitled to register buyers of pv projects larger than 2 mwp for munich re s warranty insolvency protection. Has passed the munich re annual due diligence process. 107 80802 munich germany.

Insurance is seldom sexy but climate change campaigners will raise a glass to munich re if the industry emulates its policy to cap the financial risk related to battery warranties and helps lift. Summary of pv module warranty insurance three approaches to support pv bankability munich re green tech solutions october 11 2018. Znshine pv tech a tier 1 chinese solar module manufacturer announced the signing of a pv warranty insurance reinsured by munich re one of the world s leading reinsurers the deputy general manager from willistowerswatson joined signing ceremony. Munich re issues a warranty partner list with photovoltaic module manufacturers that meet the following criteria.

Munich re green tech solutions october 11 2018 2. Energy shortfall coverage enhances the credit worthiness of projects and supports more favorable financing terms from lenders resulting in the premium. The insurance covers standard and double glass solar modules manufactured by znshine. The warranty risk of solar must be addressed early in the development phase of pv projects as it is not possible to buy warranty insurance later during the operational phase.

Znshine s customers will therefore benefit from a greater. Munich re s pv warranty insurance is the established market standard. Enables you to take control of the warranty risk of solar and the letter acts as your seal of approval.