Munich Re reinsurers Chinese photovoltaic manufacturer

Munich Re is reinsuring performance guarantees for Chinese photovoltaic manufacturer, Yingli Green Energy, regarding its multi-crystalline modules.

The cover aims to help Yingli manage the long-term technical guarantee risk on its balance sheet.

Among other things, the agreement covers the risk of the firm’s multi-crystalline modules failing to achieve, during the first ten years, a power output of at least 91.2%, and in the following fifteen years a power output of no less than 80.7% of the nominal power output specified.

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Category: Business Insurance News, Insurance News