Yingli Green Energy has signed a module performance warranty insurance agreement with one of Munich Re's specialty primary insurers.
Under the terms of the agreement, Yingli Green Energy and Munich Re will provide additional economic security for large-scale commercial and utility project developers, investors and debt providers. The agreement will cover Yingli Green Energy's multicrystalline modules sold from October 1, 2012 to September 30, 2013.
In the event of an unexpectedly large performance loss below guaranteed performance specification, Munich Re indemnifies Yingli Green Energy for its performance warranty obligations, the companies explain. The agreement covers the 10-year and the 25-year warranties on all multicrystalline Yingli Solar modules, guaranteeing that within 10 years, multicrystalline Yingli Solar modules exhibit a power output of no less than 91.2% of the nominal power output specified on the module's original product label.
Furthermore, it covers multicrystalline modules within 25 years exhibiting a power output of no less than 80.7% of the nominal power output as specified on its original product label.