Advanced Soltech's subsidiary in China, has signed an order with NanTong YongXing Garden Dyeing and Finishing Co.The order applies to the installation of a solar energy plant of 0.8 megawatts (MW) and is estimated to provide a total annual revenue of approx. SEK 0.67 million, or approximately SEK 13.4 million during the agreement's 20-year term. The investment in the facility, which will be owned by Advanced Soltech's wholly owned subsidiaries in China, amounts to approximately SEK 5 million and construction is planned to start in the first quarter of 2022. The project achieves good profitability without any subsidies and is located in Jiangsu Province.
Advanced Soltech's CEO Max Metelius comments:
-The previous electricity shortage in China and the new climate goals contribute to continued strong demand for our offering.