Advanced Soltech's subsidiary in China, has signed an order with BaoheTang (BoZhou) Pharmaceutical Co. The order concerns the installation of a solar energy plant of 6 megawatts (MW) and is estimated to generate annual revenues of approximately SEK 3.15 million, or approximately SEK 63 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 approximately SEK 28.6 million and construction is planned to start in the first quarter of 2022. All electricity produced is sold directly to the grid and the local authorities bear the labor cost in the project, which achieves good profitability with a very low counterparty risk. This project is in Anhui Province.
Advanced Soltech's CEO Max Metelius comments:
-This is our first order as a listed company. Our focus is now on creating a better financial structure and ensuring that our project portfolio grows rapidly, which creates value for our shareholders, our customers and is extremely important for the climate.