Advanced Soltech's subsidiary in China, has signed an order with Ltd, a company Wuhu Hangfu Machinery Mold Co. Ltd as a company in the manufacture of car parts. The order applies to the installation of a solar energy plant of approx. 0.525 megawatts (MW) and is estimated to generate annual revenues from electricity sales of approx. SEK 0.47 million, or approx. SEK 9.4 million during the agreement's 20-year term. The investment in the plant, which will be owned by Advanced Soltech's wholly owned subsidiaries in China, amounts to approx. SEK 3.5 million and construction start is planned for the third quarter of 2022. The annual savings in carbon dioxide emissions are estimated at 336 tonnes. The project achieves good profitability without subsidies and is in Anhui Province.
Advanced Soltech's CEO Max Metelius comments:
-It is very gratifying to see that Shanghai reopens after a long period of closure due to COVID. Above all, it will simplify our construction processes.