{"id":4468,"date":"2018-12-10T07:00:00","date_gmt":"2018-12-10T07:00:00","guid":{"rendered":"https:\/\/new-stage.soltechenergy.com\/mfn_news\/soltechs-subsidiary-advanced-soltech-issues-senior-secured-green-corporate-bonds\/"},"modified":"2024-07-23T18:12:13","modified_gmt":"2024-07-23T16:12:13","slug":"soltechs-subsidiary-advanced-soltech-issues-senior-secured-green-corporate-bonds","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/soltechs-subsidiary-advanced-soltech-issues-senior-secured-green-corporate-bonds\/","title":{"rendered":"SolTech\u2019s subsidiary, Advanced SolTech, issues senior secured green corporate bonds"},"content":{"rendered":"
SolTech Energy Sweden AB (publ.) subsidiary Advanced SolTech Sweden AB (publ.) \u201dASAB\u201d issues SOLT5, senior secured green bonds within
\nASAB\u2019s green bond framework, with volume amounting to\u00a0170\u2013240 MSEK. This issue is the first in a bond-issue framework of up to 1,500 MSEK. The bonds are intended to be listed on First North Sustainable Bond Market, with the net proceeds allocated to financing the acquisition of an existing 24 MW solar energy portfolio, consisting of 17 separate solar energy installations. Application of the remaining portion of the bond-issue framework is intended for financing achievement of the growth goal in China set for 2019.<\/strong><\/div>\n

ASAB\u2019s business operation consists of financing solar energy installations in China, which are installed, owned and periodically serviced by the SolTech concern\u2019s subsidiary, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. \u201dASRE\u201d.<\/p>\n

On a rolling 12-month basis, ASRE\u2019s existing solar energy portfolio \u2013 containing a total capacity of circa 60 MW- is expected to generate approximately 70 MSEK in annual income. Following the above-cited bond issue and completed portfolio acquisition, ASRE\u2019s total portfolio is expected to generate approximately 119 MSEK in annual income. For further information, please see the investor presentation at:\u00a0https:\/\/www.soltechenergy.com\/sv\/investerare\/advanced-soltech-sweden-ab-publ\/<\/a><\/p>\n

The organizer of this transaction is JOOL Markets<\/p>\n

For more information, please contact:<\/strong>\u00a0Frederic Telander, CEO Advanced SolTech Sweden AB (publ.). Tel: 070-525 16 03, email:\u00a0frederic.telander@soltechenergy.com<\/a><\/p>\n

The information contained in this press release conforms to that which\u00a0<\/em>SolTech Energy Sweden AB (publ.) is required to make public according to the EU\u2019s regulation 596\/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person\u2019s authorization, for publication on 10 December 2018, 08:00 CET.<\/em><\/p>\n

Advanced SolTech Sweden AB (publ) \u2013 ASAB<\/strong>
\nWith the goal of providing current financing for investment in China, the parent SolTech concern and its partner in China, Advanced Solar Power Hangzhou Inc., have created ASAB. The mission of\u00a0 ASAB\u2019s business operation is to finance, by means of making loans to concern companies, solar energy installations in China that are owned and periodically serviced by ASRE or its wholly owned local subsidiaries. Security for the loaned-out funds consists of the underlying assets (solar energy installations and customer receivables). The Company\u2019s Certified Advisor Mangold Fondkommission AB ,telephone no. +46 8 5030 1550.For more info see:<\/em>\u00a0<\/em>www.advancedsoltech.com<\/a><\/em><\/p>\n

SolTech Energy in brief<\/strong>
\nSolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures \u2013 commercial, public and residential. The products are part of a building\u2019s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol \u201cSOLT\u201d and has over 15,000 shareholders. Also included in the concern are its jointly owned \u00a0(51% ) subsidiaries ASAB in Sweden and ASRE in China. The company\u2019s Certified Advisor is Erik Penser Bank. For more information see:\u00a0<\/em>www.soltechenergy.com<\/a><\/em><\/p>\n

Investment in China<\/strong>
\nSolTech\u2019s investment in China is carried out by Advanced SolTech Renewable Energy\u00a0<\/em>(Hangzhou) Co. Ltd (ASRE), which is jointly owned by our partner,\u00a0<\/em>Advanced Solar Power Hangzhou Inc. (ASP). The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE\u2019s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales<\/em>\u00a0amounting to approximately 1 billion SEK (ca. 100 MEUR).<\/em><\/p>\n

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