{"id":4531,"date":"2018-06-12T05:00:00","date_gmt":"2018-06-12T03:00:00","guid":{"rendered":"https:\/\/new-stage.soltechenergy.com\/mfn_news\/yet-another-installation-capacity-2-75-megawatts-mw-is-now-coupled-to-the-central-electrical-network-in-china-generating-income\/"},"modified":"2024-05-08T12:52:33","modified_gmt":"2024-05-08T10:52:33","slug":"yet-another-installation-capacity-2-75-megawatts-mw-is-now-coupled-to-the-central-electrical-network-in-china-generating-income","status":"publish","type":"mfn_news","link":"https:\/\/soltechenergy.com\/en\/mfn_news\/yet-another-installation-capacity-2-75-megawatts-mw-is-now-coupled-to-the-central-electrical-network-in-china-generating-income\/","title":{"rendered":"Yet another installation, capacity 2.75 megawatts (MW), is now coupled to the central electrical network in China, generating income"},"content":{"rendered":"
Soltech\u2019s subsidiary ASRE has now attained a total of twenty-nine coupled installations, equivalent to a sum total capacity of circa 34.71 MW. Calculated on a rolling 12-month basis, these coupled installations are estimated to generate approximately 51.36 MSEK (5.14 MEUR) in annual income with a good margin of profit. \u00a0As ASRE is consolidated into the SolTech concern in accord with the Proportional Method, SolTech\u2019s share of this income will be 51 percent.<\/strong><\/div>\n

CEO Frederic Telander comments:<\/span><\/span><\/strong>
\n-We are now in the completion phase regarding the construction of several solar energy installations. This is the first to be coupled in June, but we are expecting an additional number to be coupled in the coming weeks.<\/span><\/span><\/p>\n

For more information, please contact:\u00a0<\/span><\/span><\/strong>Frederic Telander, CEO SolTech Energy. Tel: 08-441 88 46, email:\u00a0frederic.telander@soltechenergy.com<\/a><\/span><\/span><\/p>\n

The information contained in this press release conforms to that which 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 12 June 2018, 07:00 CET.<\/span><\/span><\/p>\n

SolTech Energy in brief<\/span><\/span><\/em><\/strong>
\nSolTech Energy develops and sells building-integrated solar energy products for all forms of building structures \u2013 commercial, public and residential. The products are a part of a building\u2019s outer shell, as a roof, wall or window, containing semi-transparent solar cells for the production of electricity that simultaneously shuts out solar heat. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol \u201cSOLT\u201d with ca. 15,000 shareholders. Also included in the concern are its jointly owned (51%) subsidiaries ASAB in Sweden and ASRE in China (below is more info on ASRE). The company\u2019s Certified Advisor is G&W Fondkommission (securities broker). For more information see:\u00a0<\/span><\/span><\/em>www.soltechenergy.com<\/span><\/span><\/a><\/em>.<\/span><\/span><\/em><\/p>\n

I<\/span><\/span><\/em>nvestment in China<\/span><\/span><\/em><\/strong>
\nSolTech\u2019s investment in China is carried out by a jointly owned company, Advanced SolTech Renewable Energy\u00a0<\/span><\/span><\/em>(Hangzhou) Co. Ltd (ASRE), where<\/span><\/span><\/em>\u00a0SolTech owns 51 percent and Advanced Solar Power Hangzhou Inc. (ASP) owns 49 percent. 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 installation, but instead undersigns a long-term, 20-25 year contract to buy all the electricity and\/or thermal heat the relevant unit produces. ASRE\u2019s current income comes from the sale of electricity to customers, along with various forms of subsidies per produced kWh. Focus is now concentrated on building a backlog of orders for 2018 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<\/span><\/span><\/em>\u00a0amounting to approximately 1 billion SEK (100 MEUR).<\/span><\/span><\/em>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/span><\/span><\/em><\/strong><\/p>\n

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