Sure you can slide shrink tubing over it if the power wire isnt bundled into a multi-pin connector. Just slide the tubing over the original connector down to where the splice is. Even if you have corrosion, it only takes place from the outside edges of the splice. If you have a good tight twist and then its covered by soldier, that splice can turn completely green with a half-inch of crust around it and it will still work.
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