Advanced Soltech signs orders in China that generates apx. SEK 25 million during the contract period
Advanced Soltech's subsidiary in China, has signed an order with AnHui ZhiYang Food Co. Ltd. in the Anhui Province. The order concerns the installation of a solar energy plant of 1.6 megawatts (MW), which is estimated to generate annual revenues of apx. SEK 1.25 million, or apx. SEK 25 million during the agreement's 20-year term. The investment in the facility, which will be owned by our Chinese subsidiary, amounts to approximately SEK 8.77 million and construction is scheduled to start in the second quarter of 2021.
Advanced Soltech´s CEO Max Metelius comments:
-We are continuing our expansion in the Anhui Province with a customer in the food processing industry. The project has good profitability without any subsidies and we currently have a total of signed agreements over 50 MW.