Mar 12 2010
LDK Solar, a leading manufacturer of solar photovoltaic products, announced that a new insurance solution from Munich Re will cover its photovoltaic modules’ performance warranty. The performance warranty of LDK Solar’s PV modules will be covered by the insurance solution for 25 years.
According to the warranty provided by LDK Solar for its solar modules, for the first 10 years of its operation, the solar modules are guaranteed to perform to a minimum of 90% of its stated capacity and 80% for the balance 15 years.
With the insurance cover in hand for its solar modules’ performance, LDK Solar is provided a greater degree of financial security in the event of unexpected loss in the performance of its modules. Additional financial security is provided through this new insurance solution for photovoltaic projects.
Member of the Board of Management at Munich Re, Thomas Blunck, said the company was pleased to add LDK Solar to its client list. This innovative guarantee cover for photovoltaic modules is sure to be welcomed by lenders and investors, Blunck said.
Chairman and CEO of LDK Solar, Xiaofeng Peng, stated that the company is happy to be Munich Re’s client and consider this innovative insurance solution as a welcome development for the photovoltaic industry since it offers additional fiscal security through its long-term performance guarantee cover for solar modules.
Source: http://www.ldksolar.com