Ariel Green, a division of Ariel Re, has provided long-term insurance coverage for global solar PV manufacturer, ELITE Solar.
According to the terms of the coverage, Ariel Green’s TPI provides financial protection to buyers even in the unlikely event of a manufacturer’s default.
This means that unexpected underperformance or defects remain covered over the lifetime of the equipment, even without the original warranty.
This insurance coverage strengthens ELITE Solar’s long-term commitment to provide stability, enhance investor confidence, and de-risk solar assets.
Offering an additional layer of financial security, backed by the oldest and most reliable insurance market, this move is designed to de-risk assets for developers and capital providers.
ELITE Solar, headquartered in Singapore, has over two decades of proven reliability for solar module production. Its vertically integrated supply chain ensures consistent quality, traceability, and reliable, on-time delivery to its clients across the globe, the firm states.
“Partnering with Ariel Green reinforces our long-term commitment to stability and confidence for our clients. By pairing ELITE Solar’s proven manufacturing performance with coverage from one of the most trusted insurance markets in the world, we are strengthening the certainty and value behind every project we support,” said Arndt Lutz, ELITE Solar’s Chief Executive Officer.
“TPI provides an insurance-backed guarantee of ELITE Solar’s verified performance metrics, including energy output and system reliability, helping to reduce technology risk and improve project bankability,” said Craig Taylor, Senior Vice President – Energy Practice at Lockton.
Kit Chu, Solar PV Lead at Ariel Green, added: “Partnering with trusted solar manufacturers like ELITE Solar aligns perfectly with Ariel Green’s mission to expand our solar module coverage in the U.S. and accelerate the global energy transition.
“Getting firsthand exposure to ELITE Solar’s production line was tremendously informative and allowed our team to build further understanding of the design and quality required to manufacture Tier 1 PV modules. We look forward to working with ELITE Solar to insure existing and future product lines.”
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