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Advanced Soltech signs order in China that generates approx. SEK 13.6 million during the contract period

02 December 2021 - 07:30

Advanced Soltech's subsidiary in China, has signed an order with NanTong ZhongDa Textile Co Ltd, a company in the textile industry. The order concerns the installation of a solar energy plant of 0.8 megawatts (MW) and is estimated to provide a total annual revenue of approx. SEK 0.68 million, or approximately SEK 13.6 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 5 million and construction is planned to start in the first quarter of 2022. The annual savings in carbon dioxide emissions are estimated at 550 tonnes. The project achieves good profitability without any subsidies and is located in Jiangsu Province.

Advanced Soltech's CEO Max Metelius comments:

- An order of this size means annual savings of approximately 550 tonnes of carbon dioxide. This shows that our facilities make a real difference to the climate.

Provided by: MFN
Nasdaq First North GM (Sweden)
Advanced SolTech Sweden AB
Advanced SolTech 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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