Advanced Soltech's subsidiary in China, has signed an order with Fujian SuiFu Textile Co Ltd, a company in the textile industry. The order concerns the installation of a solar energy plant of approx. 2.6 megawatts (MW) and is estimated to generate annual revenues of approx. 2.2 MSEK, or approx. SEK 44 million during the agreement's 20-year term. The investment in the plant, which will be owned by Advanced Soltech's wholly owned subsidiary in China, amounts to approx. SEK 16.9 million and construction start is planned for the third quarter of 2022. The annual savings in carbon dioxide emissions are estimated at 1,710 tonnes. The project achieves good profitability without subsidies and is located in Fujian Province.
Advanced Soltech's CEO Max Metelius comments:
– We see a continued strong demand for our offer and our company is working well despite current restrictions.