Allianz, Cenergi to team up in promoting solar energy

Allianz General Insurance Company (Malaysia) Bhd plans to provide protection for solar photovoltaic (PV) systems in a partnership with renewable energy project specialist Cenergi SEA Sdn Bhd.

Allianz Malaysia Bhd said its general insurance arm had on Monday (Feb 3) inked a memorandum of understanding (MoU) with Cenergi and Sterling Insurance Brokers Sdn Bhd, to further promote solar energy as the nation’s primary source of energy generation.

“As part of the collaboration, Allianz General will offer Cenergi its Erection All Risks insurance scheme and Allianz Property All Risks cover for the construction and operation of solar PV system. The collaboration will encompass the protection of a planned solar PV systems that will collectively generate 50 megawatts of power.

“Additionally, the partnership would also see Cenergi promote Allianz General’s other commercial property insurance products as well as other specialised solutions to its partners and clients,” it said in a statement on Monday.

Allianz Malaysia and Allianz General’s chief executive officer Zakri Khir said there had been a big push for renewable energy in Malaysia and Allianz General was very much part of that conversation in furthering the Malaysia’s green agenda.

“There is no better time to invest in the future than now and by providing protection for local solar PV industry players and filling in the protection gaps where they matter the most — during construction and operations. We always hope to further reinforce and encourage the adoption of renewable energy in Malaysia.

“As an insurer equipped with the expertise and capabilities to underwrite such businesses, we are all in to provide comprehensive, perceptive and customer-centric protection for our customers,” he said.

Malaysia aims to increase the use of renewable energy to generate electricity from six per cent to 20% by 2025, which will be largely driven by solar.

Source: Bernama