May 28 2010
On May 27, 2010, Astronergy (also known as Chint Solar) announced that Munich Re, one of the world's leading reinsurance companies, will be covering Astronergy's crystalline silicon and thin film PV modules, a guarantee that holds PV panels to high performance standards for the power output warranty period.
The agreement covers the length of the 25-year warranty on the solar panels, guaranteeing a rated power output of greater than 90% for the first 10 years, and a rated power output of greater than 80% for the remaining 15 years. Additional efficiency losses qualify for compensation.
With quality ranking high on the list of concerns in a market with strong demand and a countless number of suppliers, this arrangement represents a significant level of confidence in Astronergy solar modules, setting the enterprise apart in a rapidly growing market.
"We are pleased to have Astronergy as one of our new clients. The coverage is an additional element in Astronergy's risk management and thus enhances Astronergy's position in a highly competitive marketplace. We see this also as a positive step for the solar industry in the establishment of long term security for banks and investors" said Jan Napiorkowski, Risk Analyst at Munich Re responsible for Asian renewable energy markets.
Astronergy's CEO, Dr. Liyou Yang, commented, "Our cooperation with Munich Re will no doubt be a step in the right direction for Astronergy, as we build stronger relationships with our customers through value added on our products."
Source: http://www.astronergy.com