Munich Re is set to provide reinsurance services for Chinese photovoltaic (PV) manufacturer Talesun Solar Technologies.
The reinsurance agreement includes 12 years of products quality guarantee for Talesun, 25 years of regular PV module and 30 years of double-glass module in efficiency guarantee.
Talesun believes the coverage will protect the financial risks of PV modules when recalls happen, while also improving the bankability and profitability of solar projects more generally.
In order to qualify for reinsurance, Talesun had to pass a series of tests, including a technical risk assessment of PV module, the assessment of factory quality management system, the production processing assessment, and audit of raw material checklist.
“We see Talesun is an enterprise pursuing high quality, sincere service to customers, and takes product quality as core competitiveness, and that’s why we appreciate to work and cooperate with Talesun in the reinsurance business,” said Head of Green Tech Solutions of Munich Re, Michael Schrempp.
Wang Weifeng, Chairman of Talesun, also commented: “The cooperation with Munich Re does fully demonstrate that products, technology and service quality of Talesun have been authoritative recognized and accepted. Meanwhile, the back by Munich Re has also well relieved customers of worries about product quality and efficiency attenuation, thus providing better risk management and control tools for owners and investors.”
He further stated: “In the future, Talesun will continue to strengthen the cooperation with Munich Re. And the company will, as always, adhere to the requirements for product quality and continue to provide customers with high-quality PV module products and a full range of efficient and professional customer services.”
