TAIZHOU, China, May 25, 2022 /PRNewswire/ -- On May 13, Jolywood, the global leader in N-type PV technology, announced that they will continue their strategic cooperation with Munich Re, the global giant in the reinsurance industry, at Intersolar Europe held in Munich, Germany. The two parties will continue joining forces to improve global renewable energy solutions.
Munich Re will continue to provide Jolywood with a 12-year warranty for material and a 30-year warranty for linear power output. In the three consecutive years of cooperation, the two parties aimed to jointly formulate and develop renewable energy solutions for investors and financing institutions with large-scale usage of Jolywood PV modules and provided diversified value-added services and a more comprehensive third-party support guarantee.
Munich Re, founded in 1880 and headquartered in Munich, Germany, is one of the world's leading providers of reinsurance, primary insurance and insurance-related risk solutions. Munich Re conducted a comprehensive assessment and rigorous inspection of Jolywood, including an omnidirectional evaluation of Jolywood's production lines, product quality, technological strength, etc. The outcome was highly evaluated by Munich Re's team, leading to its unanimous approval of Jolywood as a trustworthy PV technology company and comprehensive underwriting services.
Andreas Dill, Head of Green Tech Solutions at Munich Re, expressed that "it has been a great achievement to work together for many years. We have a thorough due diligence process before providing reinsurance coverage which Jolywood has always passed to our satisfaction. That's why we decided to establish a long-term cooperative relationship with Jolywood. We hope our strong combination will continue to benefit the renewable energy market."
Alex Xie, Jolywood's Head of Global Marketing, said, "Jolywood is a technology company pursuing excellence with leading quality control and product quality certification systems. It is easier for our clients to obtain project financing from international financial institutions under Munich Re's endorsement. Thanks for the trust and support from Munich Re. We will work together to develop the global renewable energy business further."
