Sunova has entered into a strategic cooperation agreement with the insurance company Ping An Insurance and the insurance institution Lloyd's.
The partnership aims to ensure the provision of insurance services for 25 years civil responsability and energy loss compensation for photovoltaic modules manufactured by Sunova.
“The cooperation with Ping An and Lloyd's reflects the recognition of Sunova's photovoltaic modules by insurers Tire 1 due to their quality, reliability and credibility,” the manufacturer said in a statement to Canal Solar .
“Sunova modules are now real rivals to Tire 1 module manufacturers. For our customers, insurance-backed products from world-famous insurance companies have high credibility and ease of financing, which helps them more easily meet financing requirements abroad”, added Sunova.
“We believe that this cooperation between the two parties can better remove customers' concerns about the quality and attenuation of photovoltaic products and to improve the risk resistance and financing ability of the photovoltaic project,” Lloyd's stated.
“The signing of the insurance contract with Ping An Insurance and the reinsurance contract with Lloyd's is not only recognition of the quality of our photovoltaic product, but also an encouragement to all people at Sunova. In the future, the company will maintain product quality and continue to provide customers with high-quality module products and high-efficiency services,” said Mike Song, president of Sunova.
Brazilian market
To date, Sunova has delivered around 300 MW in total to the Brazilian market. Still this year, the company achieved module shipments of 1 GW and, in 2022, the company expects to be one of the players at GW level in annual module shipments.
According to the manufacturer, by the end of 2022 the company will have a modular capacity of 3 GW, of which 2 GW in China and 1 GW abroad.
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