Advanced Soltech signs an order in China that generates approx. SEK 30.4 million during the contract period

Advanced Soltech's subsidiary in China, has signed an order with FuJian HaiShan Foods Co. Ltd. The order concerns the installation of a solar energy plant of 2 megawatts (MW), which is estimated to generate annual revenues of approx. SEK 1.52 million, or approx. SEK 30.4 million during the agreement's 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 11.2 million and construction is scheduled to start in the third quarter of 2021. The project achieves good profitability completely without subsidies and is in Fujian Province.

Advanced Soltech's CEO Max Metelius comments:

-We experience that companies in China increasingly see solar energy as a natural part of their energy supply. This particular customer is a large scale producer of canned vegetables for both the domestic and the international market.