Advanced Soltech's subsidiary in China, has signed an order with ChuZhou GuanHui New Material Co., Ltd., a company active in the plastics and rubber materials industry. The order concerns the installation of a solar energy plant of approx. 8 megawatts (MW) and is estimated to generate annual income from electricity sales of approx. SEK 6.7 million, or approx. SEK 134 million during the agreement's 20-year term. The investment in the facilities, which will be owned by Advanced Soltech's wholly owned subsidiary in China, amounts to approx. SEK 53 million and construction start is planned for the third quarter of 2022. The annual savings in carbon dioxide emissions are estimated at 5,200 tonnes. The project achieve good profitability without subsidies and is located in Anhui Province.
Advanced Soltech's CEO Max Metelius comments:
-This is one of our larger new projects with good profitability and great environmental benefits, that could supply electricity to the equivalent of 1,600 Swedish households.