Soitec Solar, Munich Re sign performance-warranty insurance contract

Sep 5, 2013 - French semiconductor maker Soitec (EPA:SOI) said today it had signed a performance-warranty insurance contract with German re-insurer Munich Re (ETR:MUV2) covering Soitec's concentrator photovoltaic (CPV) modules.

The agreement will bring more business certainty to the French company's clients, who will be able to easily secure funding for projects with its CPV technology, Soitec said.

From now on, in the unexpected event of an excessive loss of output from the modules, the German re-insurer will indemnify Soitec for its warranty obligations.

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