Advanced Soltech signs two orders in China that generates approximately SEK 18.6 million during the contract period

Advanced Soltech's subsidiary in China, has signed orders with ZhangZhou LaiFu Furniture Co. Ltd. and ZhangZhou YueYuan Food Co. Ltd. The orders are for installation of two solar energy plants of 0.8 megawatts (MW) and and 0.43 MW and are estimated to generate annual revenues of approximately SEK 0.93 million, or approximately SEK 18.6 million during the agreement's 20-year term. The investments in the facilities, which will be owned by our subsidiary, amount to approximately SEK 6.85 million. No subsidies are paid for these projects. Construction start is planned for the second quarter of 2021.

Advanced Soltech's CEO Max Metelius comments:

-We see a strong demand for green electricity in China and continue to bring in new customers of good quality. Our assessment is that the solar energy market in China will be very strong for the foreseeable future.