Said to be needed to improve the chances of gaining project finance and sell projects, CPV specialist Soitec has used Munich Re for its modules performance-warranty insurance.
Like many others, Soitec already provides a 25-year module power output warranty, but the Munich Re policy also protects against loss of output, indemnifying Soitec for its warranty obligations.
Gaetan Borgers, executive vice president of Soitec’s Solar Energy Division said, “Our CPV modules have proven to be extremely durable and reliable. We have already installed our products in 18 countries worldwide and have yet to receive any warranty claims due to module degradation. The contract with Munich Re, following their due diligence, is another element supporting our high confidence level with regards to the robustness of our product.”
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