Advanced Soltech's subsidiary in China, has signed two orders with WuHu ChiLan Intelligent Technology Co. Ltd. and Hu Xinlei Plastic Technology Co. Ltd. The orders is for the installation of two solar energy plants of 0.8 megawatts (MW) and 0.75 megawatts (MW) and are estimated to generate annual revenues of approximately SEK 1.18 million, or approximately SEK 23.6 million during the agreement's 20-year term. The investment in the facilities, which will be owned by our wholly owned subsidiary, amounts to approximately SEK 8.65 million and construction is planned to start in the second quarter of 2021.
Advanced Soltechs CEO Max Metelius comments:
-We see strong demand for renewable energy in general and our offering in particular.