ReneSola to offer PV modules with Solarif insurance
Jun 13, 2014 - Chinese solar products maker ReneSola Ltd (NYSE:SOL) said Thursday its modules have been certified by Netherlands-based broker Solar Insurance & Finance (Solarif).
Initially, only modules made at ReneSola’s Chinese plants will be offered with the Solarif insurance. Shortly the service is planned to be applicable also to modules manufactured at the firm’s other factories.
As a result of the certification, ReneSola’s clients who opt for a Solarif insurance can receive an additional coverage which adds inherent defects to the warranty terms. The coverage can be extended up to 20 years and is usually combined with an “all-risk” package by Solariff covering material damages, labour costs and loss of production caused by external factors.
The all-risk insurance and the additional coverage for inherent defects, will be in force even if the module maker halts work or disputes a warranty claim, ReneSola noted.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.