Highlights:
• Solar manufacturer SolarSpace has announced a long-term partnership with the insurance company, Ping An (Ping An Insurance (Group) Company of China Ltd.) and Ariel Re syndicate 1910 at Lloyd’s of London (the reinsurer), to provide 25-30 years of insurance coverage for the power output warranty of the module products of SolarSpace.
Solar manufacturer SolarSpace has announced a long-term partnership with the insurance company, Ping An (Ping AnInsurance (Group) Company of China Ltd.) and Ariel Re syndicate 1910 at Lloyd’s of London (the reinsurer), to provide 25-30 years of insurance coverage for the power output warranty of the module products of SolarSpace.
Underwriter from Ariel Re syndicate 1910 commented, “SolarSpace’s high-efficiency PV module products have undergonerigorous underwriting process to be eligible for the insurance. We believe this cooperation not only improves the confidence of customers about the quality and durability of PV products but also strengthen the facilitation of financing and risk management of PV projects.”
“With the joint efforts of all the employees, SolarSpace has the opportunity to cooperate with Ping An and Ariel Re. The collaboration indicates that the quality and performance of our products have beenhighly recognized. Furthermore, SolarSpace will put more emphasis on offering reliable and efficient solar products and solutions to customers. Through this insurance agreement with Ping An and Ariel Re, it achieves our commitment to provide unparalleled protection to our valued customers.” Said James Hu, Vice President of SolarSpace.
Currently, SolarSpace has reached 35 GW cell capacity and 6 GW module capacity. The goal of 60 GW cellcapacity and 6 GW module capacity could be reached by the end of 2023. It is expected that SolarSpace will increase its market share significantly and become more competitive in the market due to this insurance agreement.
