This will enable Jolywood to continue offering fortified insurance protection that features 12-year coverage for its products’ materials and workmanship, as well as a 30-year linear performance warranty.
Munich Re is one of the top providers of reinsurance, primary insurance and insurance-related risk solutions worldwide. Its global service map covers over 150 countries. Munich Re’s strict inspection standards and prestigious reputation in the industry enable it to provide companies with reliable credit support for product quality assurance and energy-efficiency loss compensation.
As the leader in industrialisation of N-type bifacial technology, Jolywood has excellent systems for quality control and product quality certification, and provides modules for over 600 clients in more than 50 countries. Jolywood had been installing 4.1 GW N-type modules globally since the end of 2020. And over the past six years, Jolywood has cooperated with Munich Re on underwriting services worth billions, enabling it to offer customers a 30-year linear performance warranty and provide them with secure stability and growth.
“We are delighted to have established the partnership with Jolywood and support their renewable energy solutions. When a high-quality photovoltaic manufacturer and the leading PV warranty insurance provider join forces, it’s a recipe for boosting growth in the renewable
energy market,” said Michael Schrempp, Global Head of Green Tech Solutions at Munich Re.
“A qualified due diligence assessment by Munich Re resulted in Jolywood’s products, technology and service quality being authoritatively approved and recognised. This will instil confidence in Jolywood Solar’s clients – investors and solar park owners – about our high standards. At the same time, these clients will benefit from protection against the insolvency of their manufacturer and the under-performance of their panels – leading to their long-term solar investments remaining secure and profitable for at least 25 years,” explained Dr. Liu Zhifeng, Vice President of Jolywood, who then went on to say that “Jolywood will be positioned to deliver more high-quality modules, and contribute to the development of renewable energy all over the world.”