Astronergy Crystalline PV Solar Modules to be Covered by Munich Re

HANGZHOU, China, May 27 /PRNewswire-Asia/ — On May 27, 2010, Astronergy
(also known as Chint Solar) announced that Munich Re, one of the world’s
leading reinsurance companies, will be covering Astronergy’s crystalline
silicon and thin film PV modules, a guarantee that holds PV panels to high
performance standards for the power output warranty period.

The agreement covers the length of the 25-year warranty on the solar
panels, guaranteeing a rated power output of greater than 90% for the first 10
years, and a rated power output of greater than 80% for the remaining 15 years.
Additional efficiency losses qualify for compensation.

With quality ranking high on the list of concerns in a market with strong
demand and a countless number of suppliers, this arrangement represents a
significant level of confidence in Astronergy solar modules, setting the
enterprise apart in a rapidly growing market.

“We are pleased to have Astronergy as one of our new clients. The
coverage is an additional element in Astronergy’s risk management and thus
enhances Astronergy’s position in a highly competitive marketplace. We see
this also as a positive step for the solar industry in the establishment of
long term security for banks and investors” said Jan Napiorkowski, Risk
Analyst at Munich Re responsible for Asian renewable energy markets.

Astronergy’s CEO, Dr. Liyou Yang, commented, “Our cooperation with Munich
Re will no doubt be a step in the right direction for Astronergy, as we build
stronger relationships with our customers through value added on our
products.”

About Astronergy

Founded in 2006, Astronergy is a trusted provider of monocrystalline and
polycrystalline PV modules. It is also the first Chinese company, and one of
the first companies worldwide, to bring mass production of a-Si/uc-Si thin
film to the market. Astronergy has one of the most complete PV product lines
in mainland China. For more information, please visit Astronergy’s website:
http://www.astronergy.com .

About Munich Re

Munich Re stands for exceptional solution-based expertise, consistent risk
management, financial stability and client proximity. This is how Munich Re
creates value for clients, shareholders and staff. In the financial year 2009,
the Group – which pursues an integrated business model consisting of insurance
and reinsurance – achieved a profit of 2.56bn euro on premium income of around
41bn euro. It operates in all lines of insurance, with around 47,000 employees
throughout the world. With premium income of around 25bn euro from reinsurance
alone, it is one of the world’s leading reinsurers. Especially when clients
require solutions for complex risks, Munich Re is a much sought-after risk
carrier. The primary insurance operations are mainly concentrated in the ERGO
Insurance Group. With premium income of over 17bn euro, ERGO is one of the
largest insurance groups in Europe and Germany. It is the market leader in
Europe in health and legal expenses insurance, and 40 million clients in over
30 countries place their trust in the services and security it provides. In
international healthcare business, Munich Re pools its insurance and
reinsurance operations, as well as related services, under the Munich Health
brand. Munich Re’s global investments amounting to 182bn euro are managed by
MEAG, which also makes its competence available to private and institutional
investors outside the Group.

    For more information, please contact:

    Astronergy
     Wanshu Hu
     Tel:   +86-571-5603-2382
     Email: pr@astronergy.com

SOURCE Astronergy Solar