SkyFuel First in Concentrated Solar Thermal Power Industry to Offer Insurance-Backed Warranty

SkyFuel, Inc., maker of the highest performance and lowest cost parabolic trough solar collector in the world, is now the first in the Concentrating Solar Thermal Power (CSP) industry to offer insurance to support the company’s warranty. After more than a year of due diligence, Munich Re — one of the worldwide leading reinsurance companies — announced that they will underwrite SkyFuel’s performance guarantees. As the only parabolic trough maker with a serious approach to cost reduction, SkyFuel’s technology incorporates some innovative features — the most significant being the use of high reflectance mirror film (ReflecTech) in place of traditional glass.

SkyFuel guarantees the thermal output of their SkyTrough solar system for up to five years, and the specular reflectance of the SkyTrough reflectors for up to 20 years. The ability to offer insurance backing for this robust warranty is a distinct advantage in a market reliant on risk-averse banks for project finance. Chief Commercial Officer Kelly Beninga stated, “The Munich Re insurance cover, combined with higher efficiency and lower cost, makes SkyTrough a very bankable solution. Yet again, SkyFuel is pleased to be a leader in the CSP market.”

Thomas Blunck, member of Munich Re’s Board of Management, commented,

We are delighted to have concluded the first Concentrated Solar Thermal Power technology contract of this kind with SkyFuel. This is a further instance of our pioneering role in this field, following on from the launch of our performance guarantee cover for photovoltaic installations in 2009.

About SkyFuel SkyFuel, Inc. manufactures the SkyTrough parabolic trough concentrating solar collector — a breakthrough in cost and constructability resulting from significant design and material innovations. SkyFuel’s wholly owned subsidiary, ReflecTech, Inc. holds the exclusive license to manufacture and market ReflecTech mirror film.

SkyFuel is developing a next generation, higher concentration, and higher temperature parabolic trough.

Source: www.Skyfuel.com

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Posted by Gordon Smith on Apr 22 2012. Filed under Concentrated Solar, Solar Thermal, Solar Thermal Parabolic Trough. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry