PV Performance Warranty
Who?
This insurance can be concluded by both parties, the manufacturer and the investor.
Pros
1. One on one backstop from the original performance guarantee of the supplier
2. The financial rating of the reinsurer will be applied instead of the non-investment grade of the supplier.
3. Endorsed on a single project or a project portfolio
4. Flexible structure in terms of own risks and limits to meet individual demands.
5. Irrevocable policy
Manufacturers
PV Corporate Cover supports the manufacturer on the long term, up to 25 years, of the ensuring by the manufacturer granted guarantees. Therefore, you will mantain the liquidity needed to handle unexpected performance warranty claims. By this cover, your guarantees are credible and your liquidity is protected.
The market standard of 20 to 25 years of guarantee will make you as a manufacturer the bearer of a significant risk. Guarantors will have to meet their obligations and assuring this by including reserves. Manufacturers usually record amenities on their balance sheet, which reserves equity that cannot be used for other purposes. Their amenities only cover just a fraction of the obligations that can take place when a warranty claim occurs. The loss that could occur is a significant decrease of the market position of the manufacturer and even worse, a failure.
Stay healthy, insure your warranty obligations
The PV Corporate Cover will ensure the liquidity that you need, in case of unseen high claims. Not only does this increase your security as a manufacturer, but eventually also the security for the end user and the investor.
Investors
As an investor, with the PV Park Performance Warranty you will be protected against failure when it comes to the PV that the manufacturer delivered. The heavy competition over the past few years caused failure for a lot of manufacturers, with a result that high warranty claims were not always compensated. Your result : high costs.
With the PV Performance Warranty, insured risks are defective productions, aged materials and material defects.
Cover your risk with our PV Performance Warranty
When the manufacturer is not solvent and the modules can qualify for a guarantee claim, the insurer will pay directly to the owner/investor. You can get the PV performance warranty for a new PV installation already in the finance fase, which can be favourable for the conditions of financing the project.
More information
We’d love to advise you about our possibilities! Learn more about PV Performance Output insurance.
