New Phono Solar insurance scheme provided for the Japanese market2012-12-04
Phono Solar, a global renewable energy solutions manufacturer, today announced it has become the first company to introduce an Insurance Compensation Scheme for Natural Disasters to the Japanese market. All of the company’s modules sold into the market will be covered by this insurance.
The new insurance scheme is adapted especially to the Japanese market’s needs. It promises to provide project investors with a guarantee, should an installation be damaged or destroyed, that not only will they receive compensation for property and equipment lost, but also for any loss of income from not receiving government subsidies. The insurance scheme is the first of its type in Japan.
Eric Yuan, Marketing Manager at Phono Solar, said: “Phono Solar takes specific steps to adapt its services to markets around the world and our new Interest Compensation Insurance is an example of this. In a country that is affected significantly by events characterised in legal and insurance terms as ‘acts of God’, project investors might otherwise be wary of committing to industrial-scale farms. This new scheme secures their ROI, and ensures that PV technology has a place in Japan’s renewable energy future.”
Closing Date: Dec. 4, 2012