Advanced Soltech's subsidiary in China, has signed an order with ZhouShan Putuo Changhong Ship Repair Co ltd , a company that repairs and maintains ships.
The order is for the installation of a solar power plant of approx. 6 megawatts (MW) and is expected to generate annual revenue from electricity sales of approx. SEK 5.65 million, or approx. SEK 113 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 42 million and construction start is planned for the first quarter of 2024. The annual savings in carbon dioxide emissions are estimated at 3,800 tonnes. The project is located in Zhejiang province and is profitable without any subsidies.
Advanced Soltech's CEO Max Metelius comments:
"This is a large project that has potential to be expanded further. Our sales-leaseback deal with JiangSu Leasing has received a lot of attention in the industry and even before the start of construction, we have several parties interested in in financing the project.