Yingli Green Energy and Munich Re Announce Performance Warranty Insurance Agreement
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In the event of an unexpectedly large performance loss below guaranteed performance specification, Munich Re indemnifies
As an additional feature, Munich Re offers the complementary Option Cover insurance available to customers of
"Our state-of-the-art manufacturing lines and choice of suppliers have conveyed trust and reliability to banks, investors and rating agencies. Our partnership with Munich Re serves as another powerful edge for differentiation in a highly-competitive market environment," commented Mr.
"This strategic alliance with one of the world's leading insurers represents an important milestone in the technical and performance de-risking of photovoltaic projects, thereby lowering the financing barriers that our customers experience during a business cycle where banks are more conservative," said
"As utility scale project sizes continue to grow across the region, we have secured a module performance warranty insurance policy to support the reduction in cost of capital that will particularly benefit commercial and utility scale projects. This exemplifies once more our dedication to customer support at every stage of project development," said
"We are delighted to have concluded this contract to support Yingli in their forward-looking global growth plan. With our expertise, we can assume very special renewable energy risks and help provide greater investment security. We see considerable growth potential in risk transfer solutions for renewable energy," said
In order to obtain further information on both the Corporate Policy and the Option Policy, please go to: www.munichre.com/gts.
About Munich Re
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2011, the Group - which pursues an integrated business model consisting of insurance and reinsurance - achieved a profit of €0.71bn on premium income of around €50bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €27bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. For more information, please visit www.munichre.com/gts.
Safe Harbor Statement
This press release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "target" and similar statements. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond
For further information, please contact
Tel: +86 312 8929787
E-mail: [email protected]
Head of Marketing
Yingli Green Energy Americas
Tel: +1 603 5915812
Email: [email protected]
Marketing Communications Manager Europe
Yingli Green Energy Europe GmbH
Email: [email protected]