By NST Business
KUALA LUMPUR: Allianz General Insurance Company (Malaysia) Bhd and its agency partner Anora Agency Sdn Bhd have signed a memorandum of understanding (MoU) with Pekat Solar Sdn Bhd to further their commitment in promoting solar energy as the nation’s primary source of energy generation.
As one of the pioneers on the local renewable energy scene, Pekat Solar has contributed directly to the rapid rise of solar as an alternative energy source in the country.
Pekat Solar was the first solar photovoltaic (PV) installer in Malaysia to receive ISO 50001: 2011 Energy Management System certification and is recognised by Sustainable Energy Development Authority (SEDA) as a certified PV provider for both on- grid and off-grid solar PV systems.
Through the MoU, Pekat Solar’s business, assets, and projects will be protected by a range of insurance solutions, including the SolarPro All-Risks Insurance, which is exclusively distributed by Anora, with Allianz General as its principal insurer.
“Consumer protection is at the forefront of the solar industry and is exactly what is needed to drive and sustain the adoption of renewable energy. Consumers generally will only buy-in when they feel secure,” said Allianz Malaysia Bhd chief executive officer Zakri Khir said in a statement today.
“As such, our role as insurers is to support local players in the solar PV industry, as well as to fill the protection gaps in the solar PV ecosystem,” he added.
Allianz General is part of the Allianz Group in Munich which has joined the RE100 initiative, led by the global initiative The Climate Group, working with businesses and governments to address climate change.
The company has committed to sourcing 100 per cent of its global electricity needs from renewable sources by no later than 2023, an initiative Allianz Malaysia is ready to support.
“Such collaborations provide us with the perfect opportunity to provide industry players and consumers with unparalleled solutions and services which will ultimately serve the greater good in securing the future development of solar energy in Malaysia,” added Zakri, who is also CEO of Allianz General.
The SolarPro All-Risks Insurance, which was launched by Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin during the International Greentech and Eco Products Exhibition and Conference Malaysia (IGEM) 2018, is Malaysia’s first comprehensive insurance protection scheme that is catered for home and commercial solar PV owners.