HANGZHOU, China, Jan. 20, 2015 /PRNewswire/ -- Astronergy has announced it has extended the contract with Munich Re, the world top reinsurance enterprise, to provide better third party services to the customers. The first cooperation between these two firms can be traced back to four years ago, and the renewed contract started from January 1st, 2015.
Astronergy guarantees a linear warranty of its crystalline PV modules produced in China and Germany with an actual power output in the first year of no less than 97 percent of the nominal power output and with an annual decline no more than 0.7 percent from year two to year 25. Through the insurance, additional financial guarantee underwritten by Munich Re will be provided if the module performance misses what the linear warranty pledges due to defects.
"Astronergy is satisfied with the contract extension which would bring more confidence to our clients. With a Tier 1 supplier listing by Bloomberg and the reinsurance service provided by Munich Re, these mark the high recognition of Astronergy from financial institutes. We will concentrate on increasing efficiency and quality enhancement," Astronergy's Vice President Dr. Chuan Lu commented.
Astronergy was founded in October of 2006 as a subsidiary of the Chint group. Headquartered in the Zhejiang province of China, Astronergy has been a trusted provider specializing in the research, development, and manufacturing of high efficiency crystalline PV cells and modules.
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