OREANDA-NEWS. November 10, 2010. ROSNO has sponsored insurance coverage of the photovoltaic apparatus located on the roof of the Memorial Museum of Space Exploration in Moscow under the program "Solar Roofs in Mastering New Markets", reported the press-centre of ROSNO.

This program of the German Ministry of Economics and Technology is implemented jointly with the German Energy Agency (DENA). Its purpose is to support German enterprises in the solar energy field when entering new export markets. Annually, up to 10 projects in various regions of the world are implemented, whereas 45% of the total investments are subsidized by the German Ministry of Economics and Technology. Allianz SE is a longstanding DENA partner.

The Moscow project has been implemented in close cooperation with the famous German companies specializing in solar energy, which have developed, produced and installed these electronic devices. The project’s partners were the Memorial Museum of Space Exploration and ROSNO. At the installation stage, ROSNO insured construction and assembly works, and now it has assumed costs of insuring solar energy plant against all risks for 10 years (including the production disruption risk). The solar energy plant with an output of about 5.5 kWt shall demonstrate the advantages of photovoltaic machinery as a decentralized and environmentally friendly source of energy. The fact that the insurance partner of this project is ROSNO can be easily explained: the company supports all projects implemented pursuant to the global environmental strategy of its shareholder, Allianz, including the projects related to renewable sources of energy.

The plant opening ceremony was attended by Mr. Armin Sandhovel, CEO of Allianz Climate Solutions, and Mr. Hannes Chopra, head of Allianz Eurasia, CEO of ROSNO.

"Our global goal is to make solar energy more competitive, contributing to environmental protection without state support. Using solar energy may be economically sound not only in the countries with warm climate, but also in moderate-climate areas, such as in Central Russia", noted Mr. Armin Sandhovel, CEO of Allianz Climate Solutions.

Hannes S. Chopra, CEO of IC ROSNO and head of Allianz Eurasia, noted that "climate change issues directly affect the insurance sector. Over 40% of all global risks are directly related to natural disasters. Our shareholder, Allianz SE, follows a holistic approach to this issue. In Russia, especially after the last summer events, the issue of climate change is of great importance as well. Therefore, ROSNO is among the first Russian insurance companies to offer insurance products covering climatic risks (e.g. in agricultural insurance) and to support the shift to the low carbon economy by investing and funding research in this field. One of such priorities is investing in renewable energy".