Gigasun's subsidiary in China has signed two orders with two Chinese manufacturing companies. The orders are for installations of solar energy installations totaling approximately 1.7 megawatts (MW) and are expected to generate annual revenues from electricity sales of approx. SEK 1.35 million, or approx. SEK 27 million over the 20-year term of the agreements. The investment in the facilities, which will be owned by Gigasun's wholly-owned subsidiary in China, amounts to approx. SEK 10.3 million and construction is planned to start in the first quarter of 2024. The annual savings in carbon dioxide emissions are estimated at 1000 tonnes. The projects are profitable without any subsidies.
Advanced Soltech's CEO Max Metelius comments:
The Chinese market for rooftop solar energy continues to mature and we see good local interest in financing new projects with various types of loans. These projects are mostly financed by JiangSu Leasing.