Solar photovoltaic manufacturer LDK Solar has partnered with Solarif, to become the first companies to offer customers a full insurance package at the system level.

LDK’s new Solar Secure service combines an operational ‘All Risk Insurance’, warranty and inherent defect insurance to provide comprehensive cover for the company’s PV modules. However, the ‘All Risk Insurance’ also extends to all other components of the PV system.

Xiaofeng Peng, Chairman and CEO of LDK Solar said:  “We're proud to be the very first PV company to introduce this innovative insurance solution setting new standards for the PV insurance industry.  We believe our offer is the ultimate solution for securing investments in PV projects.”  

The insurance package is covered by A+ rated German insurance company, HDI Gerling. The solar manufacturer’s offering will insure a qualified warranty claim for almost any case, including examples the company laid out below:

  • 100 percent coverage of all sold products on the European continent without hidden limited coverage;
  • 100 percent transparent policy conditions for easy check by banks or other interested parties;
  • Solarif audited and certified LDK Solar product quality reinforcing bankability and bank financing;
  • Compensation of production loss during warranty exchange period; and
  • Coverage of labour and transportation costs for module replacement of valid warranty claim.

LDK Solar Secure is being offered initially only to commercial customers, with ‘Professional Series’ customers receiving one year All Risk system insurance with a five year insured warranty and inherent defect option inclusive in the product price. LDK Solar are able to extend the initial coverage for up to a maximum of 20 years.

As an independent third party, Solarif completed a successful audit of LDK Solar's manufacturing process and product quality. Rene Moerman, Chief Strategy Officer of Solarif explained:  “After an elaborate examination of the factory, company, environmental and labour conditions, we declare that LDK Solar fulfils all expectations and is now on our whitelist.  We are proud to announce our cooperation with LDK Solar, a company with a positive spirit and great sense of quality.”

Peng concluded: “LDK Solar has extensively examined the current insurance available for the PV market and we believe, that together with Solarif, we have developed a unique insurance package.”