Gigasun signs an order in China that generates a total of approx. SEK 62 million during the contract period
Gigasun's subsidiary in China, has signed an order with a Chinese company that manufactures solar panels. The order is for the installation of a solar energy plant totalling approximately 3.5 megawatts (MW). Part of the project consists of solar panels integrated into the façade (BIPV), which is a new product for Gigasun.
The plant is estimated to generate annual revenues from electricity sales of approximately SEK 3.1 million, or approx. SEK 62 million during the 20-year term of the agreement.
The investment in the plant, which will be owned by Gigasun's wholly-owned subsidiary in China, amounts to approx. SEK 26 million and construction is planned to start in the first quarter of 2025. The annual savings in carbon dioxide emissions are estimated at 1,550 tonnes. The project is located in Zheijiang province and is profitable without any subsidies.
Gigasun's CEO Max Metelius comments:
Gigasun continues to take on new profitable projects in China on an ongoing basis, which clearly shows that the company has a strong underlying business. It is very exciting that the company is now testing a new product, so-called BIPV, solar panels integrated into the building's façade, which can be developed into a new important business area.
In parallel with our daily operations, we are working intensively on our strategic review, which is proceeding according to plan with good interest from potential investors.
