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Advanced Soltech signs an order in China that generates approx. SEK 25 million during the contract period

29 September 2021 - 07:30

Advanced Soltech's subsidiary in China, has signed an order with Anhui WanKai Logistics Park Co. Ltd. The order concerns the installation of a solar energy plant of 1.6 megawatts (MW) and is estimated to generate annual revenues of approx. SEK 1.25 million, or approx. SEK 25 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 approx. SEK 9.4 million and construction is planned to start in the fourth quarter of 2021. The project achieves good profitability completely without subsidies and is located in Anhui Province.

Advanced Soltech's CEO Max Metelius comments:

- We have a good portfolio of projects to be built during the autumn. We are experiencing strong demand and our sales organization is working very well. We are now carrying out our listing in order to create the conditions for even faster growth, which is necessary to save the climate.

Provided by: MFN
Nasdaq First North GM (Sweden)
Advanced SolTech Sweden AB
Advanced SolTech Sweden AB (ASAB) is owned 51% by SolTech Energy Sweden AB and 49% of Advanced Solar Power Hangzhou Inc. ASAB’s operations consist of financing the construction of solar power plants in China, which are installed, owned and maintained by the SolTech Group’s jointly-owned Chinese company, Advanced SolTech Renewable Energy Hangzhou Co. Ltd....
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