“Munich Re will pay for the repair or replacement of defective turbines or individual components if there are serial losses affecting a number of elements – such as the gearbox, the rotor or the tower,” says a statement.
The insurer will also pay for deploying specialist vessels to carry out the work.
Munich Re says the insurance cover gives Suzlon-owned REpower security against its guarantees, which have the potential to rack-up heavy costs if significant repair work at sea is needed.
