Ariel Green, a subsidiary of Ariel Re, provides long-term insurance to global solar photovoltaic manufacturer ELITE Solar.
This cooperation provides Technical Performance Insurance (TPI) for ELITE Solar’s module performance, with a warranty period of up to 30 years.
Depending on the terms of the coverage, Ariel Green’s TPI can provide buyers with financial protection, even in the unlikely event of a manufacturer default.
This means that even without an original warranty, unexpected underperformance or defects are still covered throughout the life of the device.
This coverage reinforces ELITE Solar’s long-term commitment to providing stability, increasing investor confidence and reducing solar asset risk.
The move provides additional financial security, backed by the oldest and most reliable insurance market, and is designed to reduce asset risk for developers and capital providers.
Headquartered in Singapore, ELITE Solar has over two decades of proven reliability in solar module production. The company said its vertically integrated supply chain ensures consistent quality, traceability and reliable, on-time delivery to customers around the world.
Arndt Lutz, CEO of ELITE Solar, said: “Partnering with Ariel Green reinforces our long-term commitment to customer stability and confidence. By combining ELITE Solar’s proven manufacturing performance with coverage in one of the world’s most trusted insurance markets, we are enhancing the certainty and value behind every project we support.”
“TPI provides insurance-backed guarantees on ELITE Solar’s proven performance metrics, including energy output and system reliability, helping to reduce technical risk and improve project bankability,” said Craig Taylor, Lockton’s senior vice president of energy operations.
Kit Chu, director of solar PV at Ariel Green, added: “Partnering with a trusted solar manufacturer like ELITE Solar is perfectly aligned with Ariel Green’s mission to expand solar module coverage in the United States and accelerate the global energy transition.
“Having first-hand access to ELITE Solar’s production lines has been extremely useful and allowed our team to further understand the design and quality required to manufacture Tier 1 PV modules. We look forward to working with ELITE Solar to secure existing and future product lines.”
