The coverage is being provided through PowerGuard.
ReneSola Ltd., a leading worldwide manufacturer of solar modules and wafers, based in San Francisco, California, has announced that it will now be working with PowerGuard in order to offer a range of solar product insurance options to its customers.
PowerGuard Specialty Insurance Services will be providing the coverage to ReneSola’s clients.
The coverage being offered will involve various long term policies for the products that have been sold by ReneSola. The insurer is a California based company that manages various specialty coverages and risk management solutions for alternative energy companies.
This new line of solar product insurance policies is the latest coverage that it has to offer.
The managing principal at PowerGuard, Mike McMullan, said that “PowerGuard is very proud that our PowerClip warranty solution has become the ‘gold standard’ for leading solar energy producers like ReneSola around the world.”
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This new partnership between the two companies involves PowerGuard’s agreement to provide complete 25 years of global solar product insurance. This will cover the products sold by ReneSola and will allow it to build its sales offerings to better cater to a wider range of risk management profiles among its clients and various markets.
The chief executive officer at ReneSola, Xianshou Li, said that the company is pleased with its new partnership with PowerGuard and is looking forward to the way that the coverage options that it provides will offer the company greater flexibility to meet their clients’ needs. The specialty coverage of these solar product insurance products provide address the specific challenges that can be faced by the operators, installers, and project developers in this industry. Li pointed out that this will also “allow ReneSola to focus on our quality and operational excellence.”
Equally, McMullen stated that this solar products insurance deal is the latest step in the company’s work to support the success and further development of the alternative and renewable energy industry around the world, which also includes other areas such as wind. This type of comprehensive liability coverage encourages the continued evolution of unique, high quality products and services.