SolarSpace Announces Long-Term Partnership with PAIC & Ariel Re

Solar manufacturer SolarSpace has announced a long-term alliance with the insurance company, PAIC (Ping An Insurance (Group) Company of China Ltd.) and Ariel Re of Lloyd’s of London, a reinsurer institution, will provide 25-30 years of power loss compensation liability insurance service for the module products of SolarSpace.

Representative from Lloyd’s expressed, “SolarSpace’s high-efficiency PV module products have undergone rigorous underwriting process of PAIC Insurance and the Ariel Re of Lloyd’s London. We believe this cooperation could not only improve the confidence of customers about the quality and attenuation of PV products, but also strengthen the financing ability and risk resistance capability of PV project.”

“Due to the concreted efforts of all the employees, SolarSpace could have the opportunity to cooperate with PAIC and Lloyd’s. The collaboration indicates that the quality and performance of our products have been highly recognized. Furthermore, SolarSpace will put more emphasis on offering reliable and efficient solar products and solutions to customers. According to the agreement with PAIC and Lloyd’s, the commitment to providing our valued customers with unparalleled protection could be achieved,” Said James Hu, Vice President of SolarSpace.

Currently, SolarSpace has achieved 35 GW cell capacity and 6 GW module capacity. The goal of 60 GW cell capacity and 6 GW module capacity could be reached by the end of 2023. It can be assumed that the competitiveness and market occupancy of SolarSpace could be increased significantly by the influence of the new insurance agreement.