NP-Gruppen has signed a framework agreement with HBV to supply sealing roofs. The contract period is 2019-12-19 – 2021-11-30 with the possibility of one or more extensions. NP-gruppens part of the framework agreement is estimated to be worth between 150-250 million SEK over three years and applies to 148 municipalities where NP-Gruppen is ranked as the 1st supplie­r.

In 2019, the NP Group has systematically expanded its range of services with sealing roofs where the potential for solar energy is greater compared to sheet metal roofs. In the framework agreement, NP-Gruppen is ranked as the 1st supplier in the following counties, which includes a total of 148 municipalities: Södermanland County, Östermaland County, Jönköping County, Kronoberg County, Kalmar County, Gotland County, Halland County, Västra Götaland County, Jämtland County, Västerbotten county and Norrbotten county.

HBV is a purchasing function for Sweden's public utility housing company consisting of just over 360 members. HBV conducts coordinated procurement for products and services related to construction, renovation and management of properties. HBV has sales of just over SEK 2 billion.

CEO Stefan Ölander comments:

  • We are very proud of this large framework agreement, which means a big lift for the NP Group. The framework agreement applies to sealing roofs and we see obvious synergies with the existing framework agreement on solar energy that NP-Gruppen already has with HBV. 

For more information contact:

Stefan Ölander, CEO Soltech Energy Sweden AB (publ) Tel: 070-739 80 00.
E-mail: stefan.olander@soltechenergy.com or 
Patrik Pettersson, CEO NP-Gruppen AB. Tel: 070-816 52 03.
E-mail:
 patrik.pettersson@npgruppen.se

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 20 December 2019 at. 10.00 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

Soltech Energy Sweden AB (publ) has signed an agreement on December 19, 2019 to acquire 60% of the shares in the solar energy company Merasol AB (Merasol) with access January 2, 2020. Merasol is a Gothenburg company founded in 2013, has 20 employees and will turn full year 2019 approximately SEK 40 million with a positive result. This represents a 100% increase compared to 2018.

Merasol focuses strictly on the rapidly growing business market in solar energy and has a large number of framework agreements with large customers in the business and public sectors. Merasol will be Soltech's first subsidiary in the Gothenburg region and the company also obviously has an ambition to grow geographically.

The acquisition of Merasol in economic terms:

• All Merasol shares are valued at SEK 25 million and the total acquisition proceeds for 60% of the shares thus amount to SEK 15 million.

• The acquisition is paid with an initial cash portion of SEK 4.5 million and newly issued Soltech shares worth SEK 3 million (20% of the purchase price). After 12 and 24 months, an additional SEK 3.75 million can be paid out in variable supplementary purchase price if set sales and profitability targets are achieved.

• In the spring of 2022, through an option agreement, Soltech has the opportunity to acquire the remaining 40% of Merasol, or a desired part thereof. The price of the shares under this option is calculated as the average of Merasol´s EBIT during the 2020-2022 fiscal years (3 years) x the multiple five (5) x the percentage acquired.

• The acquisition of Merasol is financed entirely from its own cash and with newly issued Soltech shares.

• Soltech and Merasol's assessment is that the acquisition will contribute approximately SEK 60 million in sales in 2020 and with a positive operating profit. From the 2021 fiscal year onwards, Soltech expects even stronger sales growth and operating margins as a result of increased sales of Soltech's products, total solutions, joint purchasing, marketing, HR and administration.

• The goal for the financial year 2021 is to reach a turnover of approximately SEK 80 million.

CEO Stefan Ölander in a comment:

– I am very pleased with this acquisition that gives us a good platform in Gothenburg. Johan Seeman and Stefan Jennefalk, who own the company, have built a very good company and are experienced businessmen who will create great continued benefits in Merasol and throughout the Soltech Group.

Johan Seeman, CEO of Merasol in a comment:

– We are happy and proud to be part of the Soltech Group from 2020. We are confident that this will give us the resources we need in products, finance, marketing and more to achieve our high goals in the future.

For more information contact: Stefan Ölander, CEO Soltech Energy Sweden AB (publ) Tel: 070-739 80 00. E-mail: stefan.olander@soltechenergy.com or Johan Seeman, CEO Merasol AB Tel: 070 556 75 70, Email : johan@merasol.se

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 19 December 2019 at. 15.15 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 Merasol AB

Merasol AB started in 2013 and has sales of SEK 40 million in 2019. Our business concept is to design and deliver complete solar energy solutions to property owners, municipalities and agriculture. We stock products to offer a high level of service. Our process is simple and is designed to create confidence in the decision to choose solar energy as a natural part of the customer's electricity mix.

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

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 2, 2019 at. 08.30 CET.

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.

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

SolTech Energy Sweden AB (publ) subsidiary, Advanced SolTech Sweden AB (publ) “ASAB” has issued new green senior secured corporate bonds under ASAB’s green bond framework of SEK 1,500 million. Including this issue, bonds equivalent to SEK 505 million have been issued under the green framework. The organizer of the transaction was JOOL Markets. With this bond issue, the green framework is fully issued in terms of agreements with JOOL. In addition to the announced listing of the Company’s shares on First North Growth Market, previously published, ASAB will shortly present a new financing plan for the continued expansion in China.

As earlier bonds issued during the SOLT 5 series, this bond is also intended to be admitted to trading on the First North Sustainable Bond Market. This is the fourth issue under the green framework and the net proceeds are allocated to finance the construction of solar power plants under subordinate orders.

ASAB’s business consists of financing solar power plants in China that are installed, owned and managed by the SolTech Group’s wholly owned company, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. “ASRE” and its wholly owned subsidiary and the wholly owned Longrui Solar Energy (Suqian) Co., Ltd. Including the plants that are planned to be built with the net proceeds from the issue, the total capacity is then expected to amount to approximately 130 MW.

For more information, please contact: Max Metelius, CFO, Advanced SolTech Sweden AB (publ) Tel: 08-425 010 53. E-mail: max.metelius@advancedsoltech.com or
Stefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: 070-739 80 00 Email: 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 November 26, 2019 at. 14.30 CET.

Advanced SolTech Sweden AB (publ) – ASAB
ASAB’s business consists of lending to Group companies to finance solar power plants in China that are owned and continuously maintained by the wholly owned company ASRE, its wholly owned local subsidiary and the wholly owned Longrui Solar Energy (Suqian) Co., Ltd. As collateral for borrowed funds, collateral is obtained 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

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 local subsidiaries and Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of ASRE and Suqian 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 and Suqian’s current revenues come 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 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

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 November 13, 2019 at. 07.30 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

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

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 November 11, 2019 at. 13.00 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. 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

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 October 29, 2019 at. 07.15 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. 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 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

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 October 25, 2019 at. 07.40 CET.

 

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

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.