Soltech Group signs an order in China that generates approx. SEK 21.6 million during the contract period
Advanced Soltech's subsidiary in China, has signed an order with WanJi (Anhui) Great Health Industry Co. Ltd. The order concerns the installation of a solar energy plant of 1.3 megawatts (MW) which is estimated to generate annual revenues of approximately SEK 1.08 million, or approximately SEK 21.6 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 7.25 million and construction is scheduled to start in the third quarter of 2021. The project achieves good profitability without subsidies and is in Anhui province.
Advanced Soltech’s CEO Max Metelius comments:
-We are experiencing a strong recovery in the Chinese economy and a good interest from companies to contribute to a green transition of the electricity production.