Advanced Soltech's subsidiary in China, has signed an order with HuanAn NiSheng Property Management Co Ltd. The order concerns the installation of a solar power plant of a total of approximately 1.2 megawatts (MW) and is estimated to generate annual revenues from electricity sales of approx. 1.2 MSEK, or approx. SEK 24 million during the agreements' 20-year term. The investment in the facility, which will be owned by Advanced Soltech's wholly owned subsidiary in China, amounts to approx. SEK 8.2 million and construction start is planned for the third quarter of 2022. The annual savings in carbon dioxide emissions are estimated at 1,030 tonnes. The project achieve good profitability without subsidies and is located in JiangSu Province.
Advanced Soltech's CEO Max Metelius comments:
-Sales of new projects work very well and our focus is now on arranging a new financing structure.