Solar collector manufacturer SkyFuel has announced that it now offers insurance on their product warranties. After a year of negotiations, German reinsurer Munich Re has agreed to back SkyFuel’s warranties.
The guarantees SkyFuel offers include the thermal output of its SkyTrough system for five years as well as a warranty on the 20-year performance of its reflectors. The company is the first in the Concentrated Solar Power (CSP) segment to offer insurance on warranties.
Thomas Blunck, member of Munich Re's board of management, commented: “We are delighted to have concluded the first CSP technology contract of this kind with SkyFuel. This is a further instance of our pioneering role in this field, following on from the launch of our performance guarantee cover for photovoltaic installations in 2009.”