Advanced Soltech's subsidiary in China, has signed an order with SuQian Huida Pastoral Industry Development, a company that manufactures agricultural machines. The order concerns the installation of a solar energy plant with a total of approx. 10 megawatts (MW) and is estimated to provide annual revenue from electricity sales of approx. SEK 9.8 million, or approx. SEK 196 million during the 20-year term of the agreement. The investment in the facilities, which will be owned by Advanced Soltech's wholly-owned subsidiary in China, amounts to approx. SEK 73 million and start of construction is planned for the fourth quarter of 2023. The annual saving of carbon dioxide emissions is estimated at 6,700 tons. The project is located in JiangSu province and is profitable without any subsidies
Advanced Soltech's CEO Max Metelius comments:
– We are very proud to have been trusted to build this giant project. Construction will begin in the fourth quarter after the financing is resolved.