Advanced Soltech signs orders in China that generates approx. SEK 117 million during the contract period

Advanced Soltech's subsidiary in China, has signed an order with AnHui SongLing Electric Co Ltd, a company in the consumer electronics industry. The order concerns the installation of a solar energy plant of approx. 6 megawatts (MW) and is estimated to generate annual income from electricity sales of approx. SEK 5.85 million, or approx. SEK 117 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 40 million and construction start is planned for the third quarter of 2022. The annual savings in carbon dioxide emissions are estimated at 3,900 tonnes. The project achieves good profitability without subsidies and is located in Anhui Province.

Advanced Soltech's CEO Max Metelius comments:

-We are very proud to present this project which both shows good profitability and contributes to great climate benefits. This will be one of our ten largest facilities. The market situation in China is currently complicated due to shutdowns caused by COVID, but despite this we succeed in both producing electricity and selling new projects, which shows that we have a very well-functioning business model.