ReneSola has earmarked a deal with PowerGuard Specialty Insurance Services to provide a range of long-term insurance and warranty-related coverage for its high-quality solar products.
PowerGuard will cater 25 years of complete coverage for ReneSola products worldwide, facilitating the solar product maker to structure sales offerings to suit a wide spectrum of risk-management profiles, as per the clauses of the agreement.
ReneSola chief executive officer Xianshou Li said PowerGuard’s unique coverage options give flexibility in meeting the needs of its clients.
"These types of insurance products address the difficulties that are often encountered by solar project developers, installers and operators, and will allow ReneSola to focus on our quality and operational excellence," Li added.
PowerGuard is based in California, US, and offers programs specializing in the design and underwriting of unique insurance and risk management solutions for solar and other alternative energy companies.
ReneSola manufactures solar wafers and produces solar power products that are used in solar cells and modules.