Advanced Soltech's subsidiary in China, has signed an order with ZheJiang YongJie aluminum Industrial Co. Ltd, one of China's largest manufacturers of aluminum products.
The order is for the installation of a solar power plant totaling approximately 1.4 megawatts (MW) and is expected to generate annual revenue from electricity sales of approx. SEK 1.15 million, or approx. SEK 23 million during the 20-year term of the agreement. The investment in the facilities, which will be owned by Advanced Soltech's wholly-owned subsidiary in China, amounts to approx. SEK 8.5 million and construction start is planned for the first quarter of 2024. The annual saving of carbon dioxide emissions is estimated at 850 tonnes. The project is located in Zhejiang province and is profitable without any subsidies.
Advanced Soltech's CEO Max Metelius comments:
-We continue to bring in high-quality customers and see a good demand for our offer.