Soltech’s ASRE in China received a new order, which will provide SEK 36.4 million during the contract period

SolTech Energy's joint venture in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with Jiangsu Aolibiya Textile Co. Ltd. The order is for the installation of a solar power plant of just over 1.9 megawatts (MW) and is expected to generate annual revenues of approximately SEK 1.82 million, or about SEK 36.4 million during the 20-year term of the agreement.

The plant is estimated to produce approximately 2,090,880 kWh annually. The customer undertakes to purchase all electricity that the plant produces for 20 years. The investment in the facility, which will continue to be owned by ASRE, amounts to approximately SEK 11.91 million and construction start is planned for quarter 1, 2020.

CEO Stefan Ölander comments:

– We are proud of this order under the exclusive five-year cooperation agreement signed in the spring of 2019 with the Jiangsu Siyang Administrative Committee of Economic Development Zone in Jiangsu Province, for the construction of 500 megawatts (MW) of solar energy capacity (100 MW per year for five years).

For more information contact: Stefan Ölander, CEO Soltech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

The information in this press release is such that Soltech Energy Sweden AB (publ) is to publish according to EU Regulation No 596/2014 on market abuse. The information was provided through the above contact person's publication for publication on December 18, 2019 at. 07.45 CET.

About SolTech Energy Sweden AB (publ)

The Soltech Energy Group develops and sells aesthetic and building-integrated solar energy products for all types of properties – commercial, public and villas. The products are part of an exterior shell of a property in the form of a roof or a wall with integrated solar cells for the production of electricity. The group includes the subsidiaries SolTech Sales & Support, NP-Gruppen and Swede Energy Power Solutions. Soltech Energy Sweden AB (publ), is traded on Nasdaq First North Growth Market under the short name SOLT and has approximately 31,000 shareholders. The company's Certified Adviser is Erik Penser Bank Phone: 08-463 83 00. Email: certifiedadviser@penser.se. More info at: www.soltechenergy.com

About the China venture

Soltech Energy's investment in China is conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd., ASRE, its wholly owned local subsidiaries and Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead undertakes to purchase the electricity that the plant produces during a 20-year agreement. Current revenue comes from the sale of electricity to customers and from various forms of grants per produced kilowatt hour (kWh) of solar electricity. The goal is to have an installed capacity of 1000 megawatts (MW) fully connected to the electricity grid in 2024 by 2023.

ASRE and Longrui Solar Energy (Suqian) Co. Ltd. are wholly owned subsidiaries of Advanced Soltech Sweden AB (publ). ASAB is 51% owned by Soltech Energy Sweden AB (publ) and 49% by Soltech's Chinese partner, Advanced Solar Power Hangzhou Inc.

SolTech Energy’s joint venture in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with ZheJiang ZhongYi Machinary Co. Ltd. The order refers to an installation of a solar power plant of 6 megawatts (MW) and is expected to generate annual revenues of about SEK 5.34 million, or about SEK 106.8 million during the 20-year term of the agreement.

The plant will produce approximately 6,000,000 kWh annually. The customer undertakes to purchase all electricity that the plant produces for 20 years. The investment in the plant, which will continue to be owned by ASRE, amounts to approximately SEK 37.44 million and construction starts are planned for Q2, 2020. Construction will be in two different phases with 3 MW each.

CEO Stefan Ölander comments:
– We are proud of this large order in our home region of Zheijiang. On December 2, 2019, we announced that our subsidiary – Advanced SolTech mandated DNB Markets and Nordea with the intention of issuing green covered bonds during the first quarter of 2020. This is included in ASAB’s new financing plan and is together with the planned listing of ASAB’s shares on Nasdaq First North Growth Market in the first half of 2020, good conditions for financing continued growth in China.

For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

The information in this press release is such that SolTech Energy Sweden AB (publ) is to publish in accordance with EU Regulation No 596/2014 on market abuse. The information was provided through the above contact person’s publication for publication on December 5, 2019 at. 07.45 CET.

About SolTech Energy Sweden AB (publ)
The SolTech Energy Group develops and sells aesthetic and building-integrated solar energy products for all types of properties – commercial, public and villas. The products are part of an exterior shell of a property in the form of a roof or a wall with integrated solar cells for the production of electricity. The group includes the subsidiaries SolTech Sales & Support, NP-Gruppen and Swede Energy Power Solutions. SolTech Energy Sweden AB (publ), is traded on Nasdaq First North Growth Market under the short name SOLT and has approximately 31,000 shareholders. The company’s Certified Adviser is Erik Penser Bank Phone: 08-463 83 00. Email: certifiedadviser@penser.se. More info at: www.soltechenergy.com

About the China venture
SolTech Energy’s investment in China is conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd., ASRE, its wholly owned local subsidiaries and Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers’ roofs in China. The customer does not pay for the plant, but instead undertakes to purchase the electricity that the plant produces during a 20-year agreement. Ongoing revenue comes from the sale of electricity to customers and from various forms of grants per produced kilowatt hour (kWh) of solar electricity. The goal is to have an installed capacity of 1000 megawatts (MW) in 2023, which is fully connected to the electricity grid in 2024.

ASRE and Longrui Solar Energy (Suqian) Co. Ltd. are wholly owned subsidiaries of Advanced SolTech Sweden AB (publ). ASAB is 51% owned by SolTech Energy Sweden AB (publ) and 49% by SolTech’s Chinese partner, Advanced Solar Power Hangzhou Inc.

Advanced SolTech Sweden AB (publ) (“ASAB”), a subsidiary of SolTech Energy Sweden AB (publ) (“SolTech Energy”), has entered into an agreement with DNB Markets, part of DNB Bank ASA, branch Sweden and Nordea Bank plc in order to issue green covered bonds. ASAB’s new collaboration with DNB Markets and Nordea, together with the previously announced listing of ASAB’s shares on Nasdaq First North Growth Market, constitutes the new financing plan for the continued expansion in China.

An initial bond issue under the agreement is planned during the first quarter of 2020, depending on prevailing market conditions. Issue volume and other terms are presented in connection with the execution of the transaction. The share from the issue is intended to be used to repurchase ASAB’s outstanding bonds and to finance ASAB’s future growth.

ASAB’s operations consist of financing solar power plants in China that are installed, owned and managed by ASAB’s wholly owned company, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE and its wholly owned subsidiaries and the wholly owned Longrui Solar Energy (Suqian) Co., Ltd.

Frederic Telander, CEO Advanced SolTechs and Stefan Ölander, CEO SolTech Energy comment:
– We have previously communicated a goal to achieve an installed solar capacity equivalent to 1 GW (1000 MW) during 2023, which is fully connected to the electricity grid in 2024, which corresponds to the power of a nuclear reactor in Forsmark. To achieve this goal, as previously announced, we plan to list ASAB’s shares on Nasdaq First North Growth Market during the first part of 2020. As part of our new expansion and financing plan for the Chinese operations, we are now entering into a collaboration with DNB Markets and Nordea intend to turn to a wider circle of institutional investors.

For more information, please contact: Frederic Telander, CEO Advanced SolTech Sweden AB (publ) Tel: 08-441 88 46. Email: frederic.telander@soltechenergy.com or,
Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Phone: 070-739 80 00. Email: stefan.olander@soltechenergy.com

Advanced SolTech Sweden AB (publ) – ASAB
ASAB’s business consists of lending to Group companies to finance solar power plants in China owned by the wholly owned companies ASRE, its wholly owned local subsidiary and the wholly owned Longrui SolarEnergy (Suqian) Co., Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers’ roofs in China. The customer does not pay for the plant, but instead undertakes to purchase the electricity that the plant produces during a 20-year agreement. Current revenue comes from the sale of electricity to customers and from various forms of grants per produced kilowatt hour (kWh) of solar electricity. The goal is to have an installed capacity of 1000 megawatts (MW) fully connected to the electricity grid in 2024 in 2023. As security for borrowed funds, ASAB receives collateral in underlying assets (solar power plants and accounts receivable). The company’s Certified Adviser is Mangold Fondkommission AB, telephone number +46 8 5030 1550. E-mail: ca@mangold.seMore info at www.advancedsoltech.com

ASRE and Suqian are wholly owned subsidiaries of Advanced SolTech Sweden AB (publ), ASAB, which is 51% owned by SolTech Energy Sweden AB (publ) and 49% by SolTech’s Chinese partner, Advanced Solar Power Hangzhou Inc.

SolTech Energy has previously announced a target to reach MSEK 300 in operating income during the 2019 financial year, which the Company is also expected to achieve in accordance with the report for Q3, 2019. Now SolTech sets a new growth target of SEK 4.7 billion in operating income in 2024. EBIT is calculated to between 3–6 percent with the goal of reaching 8–10 percent in the long run. The Chinese operations are not included in this target as the plan is to list Advanced SolTech Sweden AB (publ) on the Nasdaq First North Growth Market during the first half of 2020.

The solar energy market is facing very strong growth. In Sweden, only 0.3 percent of our energy came from the sun in 2018. In Germany, the corresponding figure was 8 percent in 2018. In the energy agreement from 2016, the goal is for Sweden to have 100 percent renewable electricity generation by 2040. The industry agrees that solar energy’s market share should be at least 10 percent. This means an increase of 33 times and a market valued at approximately SEK 100 billion annually, compared to about SEK 3.4 billion in 2018.

SolTech will achieve these goals through organic growth and an aggressive acquisition strategy that will take the Company out into the Nordic region and eventually also into Europe. SolTech will focus on companies within solar energy as well as roofing, façade, battery / charging and electricity industries, as well as companies with smart energy solutions for control and control.

CEO Stefan Ölander comments:
In the next few years, it will be clear which players will dominate the solar energy market. We are convinced that SolTech will be one of the winners as we already have the aesthetic and integrated solar energy products of the future, a clear acquisition strategy that is constantly adding new entrepreneurs and businesses as well as access to capital and quick business decisions.

For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

SolTech Energy’s joint venture in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with ZheJiang Yile Machinery Technology Co. Ltd. The words refer to the installation of a solar power plant of 0.6 megawatts (MW) and are expected to generate annual revenues of approximately SEK 492 thousand, or approximately SEK 9.84 million during the contract’s 20-year term.

The plant will produce approximately 600,000 kWh annually. The customer undertakes to purchase all electricity that the plant produces for 20 years. The investment in the facility, which will continue to be owned by ASRE, amounts to approximately SEK 3.8 million and construction start is planned for Q1, 2020.

For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

About the China venture
SolTech Energy’s investment in China is conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd., ASRE. The business model consists of ASRE financing, installing, owning and managing solar energy installations on customers’ roofs in China. The customer does not pay for the plant, but instead undertakes to purchase the electricity that the plant produces during a 20-year agreement. ASRE’s current revenue comes from the sale of electricity to customers and from various forms of grants per produced kilowatt hour (kWh) of solar electricity. The goal is to have an installed capacity of 1000 megawatts (MW) fully connected to the electricity grid in 2024 by 2023.

ASRE is a wholly owned subsidiary of Advanced SolTech Sweden AB (publ), ASAB, which is 51% owned by SolTech Energy Sweden AB (publ) and 49% by SolTech’s Chinese partner, Advanced Solar Power Hangzhou Inc.

SolTech Energy’s joint venture in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with ZheJiang WenHua Real Estate Co. Ltd. The contract refers to the installation of a solar power plant of 0.4 megawatts (MW) and is expected to generate annual revenues of approximately SEK 334,000, or approximately SEK 6.68 million, during the 20-year term of the agreement.

The plant will produce approximately 384,000 kWh annually and will be installed on a construction market. The customer undertakes to purchase all electricity that the plant produces for 20 years. The investment in the facility, which will continue to be owned by ASRE, amounts to approximately SEK 2.55 million and construction starts are planned for Q1, 2020.

For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

SolTech Energy’s joint venture in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with ZheJiang JinHao New Materials Co. Ltd. The contract applies to the installation of a solar power plant of 1.3 megawatts (MW) and is expected to generate annual revenues of approximately SEK 1,066 million, or approximately SEK 21.32 million during the 20-year term of the agreements.

The plant will produce approximately 1,300,000 kWh annually. The customer undertakes to purchase all electricity that the plant produces for 20 years. The investment in the plant, which will continue to be owned by ASRE, amounts to approximately SEK 8.06 million and construction start is planned for quarter 1, 2020. This plant is a follow-up order for an earlier 1.5 MW order from a satisfied customer – Zhejiang Kanglongda Special Protection Technology Co. Ltd.

CEO Stefan Ölander comments:
– Business continues to come in and with ASAB’s new goal, to reach 1 gigawatt (1000 MW) of installed solar energy capacity in 2023, which is fully connected to the electricity grid in 2024, we are now focusing even more on sales, installation and commissioning.

For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

About SolTech Energy Sweden AB (publ)
SolTech Energy develops and sells aesthetic and building-integrated solar energy products for all types of properties – commercial, public and villas. The products are part of an exterior shell of a property in the form of a roof or a wall with integrated solar cells for the production of electricity. The group includes the subsidiaries SolTech Sales & Support, NP-Gruppen and Swede Energy Power Solutions. SolTech Energy Sweden AB (publ), is traded on Nasdaq First North Growth Market under the short name SOLT and has approximately 31,000 shareholders. The company’s Certified Adviser is Erik Penser Bank Phone: 08-463 83 00. Email: certifiedadviser@penser.se. More info at: www.soltechenergy.com

SolTech Energy’s joint venture in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with Zhejiang GuXianDao Polyester Dope Dyed Yarn Co. Ltd. The words refer to the installation of a solar power plant of 12 megawatts (MW) and are expected to generate annual revenue of approximately SEK 10.88 million, or approximately SEK 217.6 million during the 20-year term of the agreement.

The plant will produce approximately 11,640,000 kWh annually. The customer undertakes to purchase all electricity that the plant produces for 20 years. The investment in the facility, which will continue to be owned by ASRE, amounts to approximately SEK 76.8 million and construction start is planned for quarter 1, 2020.

CEO Stefan Ölander comments:
– This is our second largest order so far in ASRE and the facility will cover a roof area corresponding to approximately 17 soccer fields. There is great interest in ASRE’s offer in China and we now have 104.3 MW connected to the grid that generates revenue, 22.5 MW under construction and an order backlog of 31.5 MW. The potential for further orders is good, as we also have framework agreements of 650 MW in three different provinces and a project pipeline of 123 MW that we continuously process. Our goal to reach 605 MW 2021 in installed capacity, which is fully connected to the network 2022, remains firm.

For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ)
Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

About the China venture
SolTech Energy’s investment in China is conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd., ASRE. The business model consists of ASRE financing, installing, owning and managing solar energy installations on customers’ roofs in China. The customer does not pay for the plant, but instead undertakes to purchase the electricity that the plant produces during a 20-year agreement. ASRE’s current revenue comes from the sale of electricity to customers and from various forms of grants per produced kilowatt hour (kWh) of solar electricity. The goal is to have an installed capacity of 605 megawatts (MW) fully connected to the electricity grid in 2022 by 2021.

SolTech Energy’s joint venture in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with JiangSu Xir Sealing Technology Co. Ltd. The words concern the installation of a solar power plant of 800 KW and are expected to generate annual revenues of approximately SEK 780,000, or approximately SEK 15.6 million during the 20-year term of the agreement.

The plant will produce approximately 880,000 kWh annually. The customer undertakes to purchase all electricity that the plant produces for 20 years. The investment in the facility, which will continue to be owned by ASRE, amounts to SEK 5.22 million and construction start is planned for quarter 4, 2019.

For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ)
Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

About the China venture
SolTech Energy’s investment in China is conducted in Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd., ASRE. The business model consists of ASRE financing, installing, owning and managing solar energy installations on customers’ roofs in China. The customer does not pay for the plant, but instead undertakes to purchase the electricity that the plant produces during a 20-year agreement. ASRE’s current revenue comes from the sale of electricity to customers and from various forms of grants per produced kilowatt hour (kWh) of solar electricity. The goal is to have an installed capacity of 605 megawatts (MW) fully connected to the electricity grid in 2022 by 2021.

SolTech Energy Sweden AB (publ) has signed a cooperation agreement with Kraftpojkarna AB for distribution of SolTech ShingEl and SolTech RooF. Vattenfall buys solar energy products from Kraftpojkarna and will offer its customers SolTech’s products starting in Q1 2020.

SolTech is a leader in aesthetic and building-integrated solar cells, which is the roof, not something on the roof. Vattenfall has now chosen to expand its product range with SolTech ShingEl and RooF. This is to provide nationwide customers with a stylish and integrated solar energy solution, which is also a roof you can walk on.
SolTech’s collaboration agreement with Kraftpojkarna also means that their other 300 solar energy customers now have access to SolTech’s products. The power boys are Scandinavia’s largest system distributor in solar energy, charging infrastructure and energy storage and were acquired in March 2019 by OKQ8.

CEO Stefan Ölander in a comment:
– We are very proud that Vattenfall is now choosing our products and look forward to a fruitful collaboration with Kraftpojkarna and Vattenfall. It is too early to comment on volumes, but it can of course be a positive addition to Soltech’s Swedish sales.

For more information contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com

About SolTech Energy
SolTech Energy develops and sells aesthetic and building-integrated solar energy products for all types of properties – commercial, public and villas. The products are part of an exterior shell of a property in the form of a roof or a wall with integrated solar cells for the production of electricity. The Group also conducts operations in China where the business model consists of financing, owning and operating solar power plants on customers’ roofs and selling all electricity produced. The Group also includes the subsidiaries Nyedal Solenergi, NP-Gruppen and Swede Energy as well as the jointly owned companies ASAB in Sweden and ASRE in China. SolTech Energy Sweden AB (publ), is traded on Nasdaq First North Growth Market under the short name SOLT and has approximately 28,000 shareholders. The Company’s Certified Adviser Erik Penser Bank Phone: 08-463 83 00. Email: certifiedadviser@penser.se. More info at: www.soltechenergy.com