Solaroo Partners Allianz General For Residential Solar PV Insurance

Kuala Lumpur, 1 December 2021 – Solar Photovoltaic (PV) and Earthing and Lightning Protection (ELP) specialist Pekat Group Berhad’s (“Pekat”) newly launch unit Solaroo Systems Sdn Bhd (“Solaroo”) had today signed a Memorandum of Understanding (MOU) with Allianz General Insurance Company (Malaysia) Berhad (“Allianz General”) to provide all its residential solar PV system with five years of SolarPro insurance, powered by Allianz.

Under the collaboration focusing on promoting environmental, social, and corporate governance (“ESG”), Solaroo will include Allianz General’s SolarPro insurance into its operation and maintenance (“O&M”) packages across a five-year period to ensure a hassle-free experience for all its residential consumers.

Chin Soo Mau, Managing Director of Pekat said, the collaboration also reaffirms the long-standing partnership between Pekat and Allianz General on the insurance solution front. “Being able to partner with Allianz General to advance the cause of ESG brings us a sense of fulfilment as we are able to share our expertise and resources with the community, as well as protecting the environment. We are indeed very proud to be able to do this with Allianz General, who shares similar principles and values in sustainability and renewable energy.”  

Allianz General’s SolarPro addresses issues including the lack of support services, high-cost of maintenance and lack of compensation for damages faced by residential and commercial Solar PV owners by offering a comprehensive all-risk protection that covers loss or damage to solar PV systems, as well as loss of income or savings due to system downtime.

Sean Wang, Chief Executive Officer of Allianz General said, the Company was delighted to partner Solaroo as it takes another step towards its overarching goal of becoming key levers in building a sustainable future.

“This partnership with Solaroo is forged on our mutual goal of strengthening our commitment towards driving the green agenda amongst Malaysians, with an opportunity to play a role in shaping a future that is safe, inclusive and sustainable and at the same time securing the future development of solar energy in the country. Our insurance solution, SolarPro, has always been all about providing meaningful support to solar PV users and through our partnership with Solaroo, we hope to further encourage the adoption of solar PV in Malaysia,” added Wang.

12kWp Solar PV System in Johor

The collaboration taps into Solaroo’s expertise in providing highly efficient and safer small-scale solar PV systems through its innovative system design, combined with in-house technology in collaboration with parent company Pekat.

“All of Solaroo’s solar PV systems will be protected by the SolarPro insurance provided by Allianz General. The combination provides assurance for customers on the reliability of the solar PV system while incurring electricity bills saving through the adoption of renewable energy,” adds Director of Solaroo, Johann Sze.

“We are looking to equip 10,000 homes with our solar PV systems in the next few years, capable of generating up to 103 million kWh of electricity a year, which translates to reducing up to 60,000 tonnes of CO2 annually,” adds Sze.