Advanced Soltech's subsidiary in China, has signed an order with Wuhu Letuo Intelligent Manufacturing Co. Ltd project, a company in the textile industry. The order applies to the installation of a solar energy plant of 1.0 megawatts (MW) and is estimated to generate annual revenues of approx. 0.75 MSEK, or approx. SEK 15 million during the agreement's 20-year term. The investment in the plant, which will be owned by Advanced Soltech's wholly owned subsidiary in China, amounts to approx. SEK 6.2 million and construction start is planned for the first quarter of 2022. The annual saving of carbon dioxide emissions is estimated at 670 tonnes. The project achieves good profitability without any subsidies and is located in Anhui Province.
Advanced Soltech's CEO Max Metelius comments:
– This customer is an exciting company at the forefront that invests in a fully automated fabric manufacturing in Anhui Province.