Advanced Soltech's subsidiary in China, has signed an order with CiXi YiNa Bearing Co. Ltd. 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 0.66 million, or approximately SEK 13.2 million during the agreement's 20-year term. The investment in the facility, which will be owned by Advanced Soltech's wholly owned subsidiary in China, amounts to approximately SEK 4.9 million and construction is scheduled to start in the first quarter of 2022. The project achieves good profitability without any subsidies and is located in Anhui Province.
Advanced Soltech's CEO Max Metelius comments:
With the listing of the company's share completed, we now have the platform required to be able to quickly expand our project portfolio, which is also our main focus.