ZNSHINE and Munich Re become PV Warranty Partners
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.
The insurance covers standard and double-glass solar modules manufactured by ZNSHINE. ZNSHINE’s customers will therefore benefit from a greater degree of business certainty, and an easier access to project finance.
As a leading manufacturer of PV modules, ZNSHINE provides its customers with a module power output warranty that guarantees its products’ performance for 25 years for standard modules and 30 years for double-glass modules. With Munich Re’s PV warranty insurance, ZNSHINE protects its ability to pay excessive warranty claims. In the event of the manufacturer’s insolvency, the policy is seamlessly transferred to the project owner as a registered buyer, ensuring that warranty claims remain covered. Buyers of ZNSHINE modules can ask ZNSHINE for a Buyer’s Declaration letter from Munich Re. Thus, effectively controlling the Warranty Risk of Solar.
During the underwriting process ZHNSHINE has successfully to passed the Munich Re due diligence and is now a listed PV Warranty Partner.
About ZNSHINE SOLAR
Founded in 1988, a BNEF Tier 1 module manufacturer with over 30 years of manufacturing excellence, ZNSHINE SOLAR (NEEQ Stock Code: 838463) has developed as a PV plant partner and investor having delivered bespoke EPC solutions and O&M services. With 3200MW annual capacity, ZNSHINE Solar has championed fast implementation of latest PV technologies in its manufacture hence shortened time of best featured modules to PV projects globally. Awarded as a ‘Green Plant’ and “China Well-known Brand”, ZNSHINE aims to become one of the largest utility scale solar project developers, having its global footprints in Japan, India, Germany, Italy, Switzerland, UK, USA, Canada, Chile, Australia and Africa. Year 2018 witnesses ZNSHINE Solar ranked as Top 1 supplier to Indian market.
About Munich Re’s Green Tech Solutions
Munich Re is one of the largest Reinsurers globally.
In Munich Re’s Green Tech Solutions we are focusing on solar, wind, energy storage, e-mobility, fuel cells, and bio energy. Our clients are equipment suppliers and project developers. We are insuring their technology risk to help them succeed in their respective markets.
A well-known example is Munich Re’s PV Warranty Insurance, a key feature of bankable PV modules. It is the industry standard in insuring the Warranty Risk of Solar.
Willis Towers Watson (NASDAQ: WLTW ) is a leading global advisory, broking and solutions company that helps clients around the world turn risk into a path for growth. With roots dating to 1828, Willis Towers Watson has 39,000 employees in more than 120 countries. We design and deliver solutions that manage risk, optimize benefits, cultivate talent and expand the power of capital to protect and strengthen institutions and individuals. Our unique perspective allows us to see the critical intersections between talent, assets and ideas — the dynamic formula that drives business performance. Together, we unlock potential.