Advanced Soltech's subsidiary in China, has signed an order with KunShan Chuho Spring Co. Ltd. The order concerns the installation of a solar energy plant of 1.0 megawatts (MW), which is estimated to generate annual revenues of approximately SEK 0.82 million, or approximately SEK 16.4 million during the agreement's 20-year term. The investment in the facility, which will be owned by Advanced Soltech's wholly owned subsidiary in China, amounts to approximately SEK 5.6 million and construction is planned to start in the third quarter of 2021. The project achieves good profitability without any subsidies and is located in Jiangsu Province.
Advanced Soltechs CEO Max Metelius comments:
-We are experiencing strong demand from both the private and public sectors. This customer is a well-established Japanese manufacturer of parts for the automotive industry that fits well into our customer portfolio.