LDK Solar Co. Ltd. and its partner, Netherlands-based underwriter Solarif, have extended LDK Solar Secure insurance coverage, currently available in Europe, to a number of growing PV markets, including China, South America, Australia and Africa. The U.S. and Canada are also covered for projects with a minimum size of 1 MW. According to LDK, the only exclusions are countries where legislation prohibits PV insurance, such as India.
LDK says it has been able to offer insurance for larger commercial PV systems and will now be extending coverage to commercial and residential customers that include PV installations of 300 kW and smaller. The company says all LDK solar modules will have a one-year insurance package included in the module price. Additional options and extensions are available. LDK says that since its introduction in 2012, more than 100 MW of installed modules have been covered with LDK Solar Secure insurance.
‘The demand for PV insurance is increasing worldwide, especially in large markets like China, Japan and other emerging countries,’ says Solarif Chief Strategy Officer Rene Moerman.