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Advanced Soltech signs an order in China that provides approximately SEK 6 million during the contract period

15 September 2021 - 14:00

Advanced Soltech's subsidiary in China, has signed an order with Anhui GaoJian Machinery Technology Co. Ltd. The order concerns an installation of a solar energy plant of 0.4 megawatts (MW) and is estimated to generate annual revenues of approximately SEK 0.3 million, or approximately SEK 6 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 2.3 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 are continuing our expansion in Anhui Province, which is in line with our expansion plans. We are experiencing good demand for our offer and continue to build up a strong order book for the fourth quarter.

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 (publ) 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. (ASRE). ASAB’s revenues will consis...
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