Suntech will introduce its new insurance policy which provides 25 years' warranty for module performance
Las Vegas, Nevada, October 20, 2014: Suntech will be exhibiting at Solar Power International this week to meet potential customers and showcase its best in class modules as a part of the company's efforts to build a stronger presence in the US market.
Suntech will be joined by Oregon-based Powin Energy, a design-and-integration company that designs, develops, and manufactures wholly integrated, high-performance energy storage systems. Both companies are a part of the Shunfeng Photovoltaic International Limited ("Shunfeng") family of clean energy companies.
Last week Suntech announced that its modules' performance will be insured by Chinese-based insurance company Ping An and reinsured by the leading risk carrier, Munich Re. This new insurance policy provides 25 years' warranty protection for Suntech in the event of a significant decrease of performance for modules -- a move expected to help expand sales by providing Suntech's customers with reassurance in the performance quality of their products.
"We have great confidence that our products are of the highest quality and are built to last, but to ensure our customers feel fully protected, our new insurance policy with Ping An and reinsurance by Munich Re will allow us to continue to honor our products' performance warranties, while still maintaining our strong financial balance sheet," said Suntech CEO Eric Luo.
Suntech's products are known for their high quality and reliability. Suntech's polycrystalline silicon modules recently received the VDE-Quality Tested certification, which recognizes high quality products that go beyond existing standards in the photovoltaic industry.
Luo, who is also responsible for the Shunfeng's acquisition strategy, added that "Suntech has the best financial balance sheet within the solar industry. We are implementing a new business strategy which will make Suntech part of the largest integrated clean energy supplier in the world. Suntech will provide one-stop access to the Shunfeng family of companies with capabilities in design, engineering, manufacturing, construction, finance, insurance, operation and maintenance, energy storage, solar products and applications."
Suntech will be at Booth 1306 at Solar Power International. For further information on Suntech or to coordinate an interview with the company, please contact: Laura Cochran, firstname.lastname@example.org
About Wuxi Suntech Power Co., Ltd.
Wuxi Suntech Power Co., Ltd., a company incorporated in the PRC in January 2001, produces industry-leading solar products for residential, commercial, industrial, and utility applications. Suntech has delivered more than 30 million photovoltaic panels or 8 GWs of installed capacity to more than 1 thousand customers in more than 80 countries. Suntech's pioneering R&D creates customer-centric innovations that are driving solar to grid parity against fossil fuels. Suntech's mission is to provide reliable access to nature's cleanest and most abundant energy source.