SolTech’s subsidiary in China receives a new order that gives SEK 110.8 million during the contract period
SolTech Energy’s joint venture in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with JiangSu RunChang Rubber Technology Co. Ltd. The words apply to the installation of a solar power plant of 6 megawatts (MW) and is expected to generate annual revenues of approximately SEK 5.54 million. During the agreement’s 20-year maturity, the accumulated revenues are estimated to amount to approximately SEK 110.8 million. Just as in the case of the two most recent transactions, ASRE receives no subsidies on delivered electricity for this order either, but achieves good profitability in any case.
The plant will annually produce about 6,600,000 kWh. The customer undertakes to buy all the electricity that the plant produces for 20 years. The investment in the facility, which will continue to be owned by ASRE, amounts to SEK 39.24 million and construction start is planned for Q3, 2019.
CEO Stefan Ölander in a comment:
– In order to put this order in the right perspective, I want to highlight that it is larger than Sweden’s largest 5.5 MW solar park at Säve airfield just north of Gothenburg.
For more information, please contact: Stefan Ölander, CEO SolTech Energy Sweden AB (publ)
Tel: 070-739 80 00. Email: firstname.lastname@example.org
The information in this press release is such that SolTech Energy Sweden AB (publ) must publish in accordance with EU Regulation No. 596/2014 on Market Abuse. The information was submitted through the above contact person’s agency for publication on May 24, 2019 at. 07.10 CET.
About SolTech Energy Sweden AB (publ) SolTech Energy develops and sells aesthetic and building-integrated solar energy products for all types of real estate – commercial, public and residential. The products are part of a building’s outer shell in the form of a roof or a wall with integrated solar cells for the production of electricity. The Group also conducts operations in China where the business model consists of financing, owning and operating solar power plants on customers’ roofs and selling all the electricity that is produced. The Group also includes the subsidiaries Nyedal Solenergi, the NP Group and Swede Energy, as well as the jointly owned companies ASAB in Sweden and ASRE in China. SolTech Energy Sweden AB (publ) is traded on First North at Nasdaq Stockholm under the short name SOLT and has approximately 18,000 shareholders. The Company’s Certified Adviser Erik Penser Bank Telephone: +46 8 463 83 00. Email: email@example.com. More info at: www.soltechenergy.com
About the Chinese initiative SolTech Energy’s investment in China is conducted in partnership with our partner, Advanced Solar Power Hangzhou Inc joint venture, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd. (ASRE). The business model consists of ASRE financing, installing, owning and running solar energy installations on customers’ roofs. The customer does not pay for the facility, but instead undertakes to buy all electricity produced by each plant during a 20-25 year contract. ASRE’s current income comes from the sale of electricity to the customers and from various forms of grants per kWh produced. Now the focus is on building an order backlog for 2019 and onwards with the goal of year 2021 has an installed capacity of 605 megawatts (MW) that is fully connected to the network 2022