Advanced Soltech's subsidiary in China has signed three orders with Chinese industrial companies. The orders concern installations of solar energy facilities totaling 8 megawatts (MW) and are estimated to provide annual revenue from electricity sales of approx. 6.75 MSEK, or approx. SEK 135 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. 54 MSEK and start of construction is planned for the first quarter of 2023. The annual saving of carbon dioxide emissions is estimated at 5,400 tons. The projects are profitable without any subsidies.
Advanced Soltech's CEO Max Metelius comments:
-Demand for our offer remains strong. At the party congress at the end of October, clear ambitions were stated to reduce emissions of greenhouse gases and reduce the amount of air pollution, which benefits our company.