Advanced Soltech signs two orders in China that generates approx. SEK 47 million during the contract period

29 July 2021 - 07:30

Advanced Soltech's subsidiary in China, has signed two orders with AnHui ShanLong Textile Technology Co. Ltd. and AnHui HuaChenShiJia Textile Technology Co. Ltd. Both companies have the same owner. The orders concern the installation of two solar energy plants of 2.24 and 0.65 megawatts (MW), and together they are estimated to generate annual revenues of approximately SEK 2.35 million, or approximately SEK 47 million during the agreements' 20-year term. The investment in the facilities, which will be owned by Advanced Soltech's wholly owned subsidiaries in China, amounts to approximately SEK 17.3 million and construction is planned to start in the third quarter of 2021. The projects achieve good profitability completely without subsidies and are located in Anhui province.

Advanced Soltech's CEO Max Metelius comments:

-Our sales organization continues to reap success in Anhui Province. It is especially fun to be able to deliver several good projects to the same customer. Our projects are robust and durable and have previously been tested by typhoons and now also by recent floods and storms, which has not led to any significant damage.

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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