Gigasun AB (publ)'s subsidiary in China has signed an order with a Chinese manufacturing company. The order is for the installation of a solar energy plant totaling approximately 0.8 megawatts (MW) and is expected to generate annual revenues from electricity sales of approximately SEK 0.54 million, or approx. SEK 10.8 million over the 20-year term of the agreements.

The investment in the facilities, which will be owned by Gigasun's wholly-owned subsidiary in China, amounts to approx. SEK 4.4 million and construction start is planned for the second quarter of 2024. The annual savings in carbon dioxide emissions are estimated at 500 tonnes.

The project is located in Anhui province and is profitable without any subsidies.