23 november 2020

Soltech groups operational company in China is awarded prize as” Top 10 Industrial and Commercial distributed Solar Power Station Builders in 2020”

The prize is awarded by The International Energy Web, a well-known organization for the renewable energy industry with more than five-hundred thousand members. The prize was awarded for excellent quality of the facilities, a timely and efficient development process and the capability to take on large-size projects. Other winners include companies such as Longi, Trina and GCL. The prize was founded in 2016.

Advanced Soltech Renewable Energy´s CEO Gang Bao comments:

-It is a great honor to be recognized by the industry as one of the leading solar power station builders in the largest market in the world, China.

For more information, please contact:
Max Metelius, VD Advanced Soltech Sweden AB (publ) Tel: 072- 316 04 44. E-post: max.metelius@advancedsoltech.com
Certified Adviser of the company is FNCA, Tel: 08-528 00 399 E-mail: info@fnca.se

About the China venture
in China ASAB operates through, its wholly owned local subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd, ASRE and Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning, and managing solar energy installations on customers’ roofs in China. The customer does not pay for the plant, but instead undertakes to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from subsidies. The goal is to have an installed capacity of 1,000 megawatts (MW) by 2023, which is fully connected to the electricity grid by 2024.
ASAB is 50.82 % owned by Soltech Energy Sweden AB (publ), 48.82% by Soltech’s Chinese partner, Advanced Solar Power Hangzhou Inc and 0.36% by several holders of preference shares.