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MarketScreener Homepage  >  Equities  >  NASDAQ OMX STOCKHOLM  >  SolTech Energy Sweden AB (publ)    SOLT   SE0005392537

SOLTECH ENERGY SWEDEN AB (PUBL)

(SOLT)
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SolTech Energy Sweden : Eurocommercial invests heavily in solar energy with Soltech's subsidiary Swede Energy

09/29/2020 | 01:47am EST

Eurocommercial Properties' very high sustainability goals puts solar energy in focus and now the company is installing solar energy at its remaining shopping centers in Sweden. Soltech Energy's subsidiary Swede Energy Power Solutions has been chosen as a partner and a total of 1,658 kWp of solar energy solutions will be installed, which is estimated to produce approximately 1,473,709 kWh / year.

Eurocommercial is one of Europe's most experienced real estate investors with shopping centers in Belgium, France, Italy and Sweden with over 130 million visits to the malls. The business is concentrated in shopping centers in attractive locations and with a long-term sustainable strategy and high goals for renewable energy. In Sweden, the goal is to get 100% electricity from renewable energy sources on both roofs and parking areas. It is a fantastic project that leads to a greatly reduced climate impact from the large facilities at the same time as Eurocommerical in Sweden gets a cost-effective solution to its energy needs.

- “With this large expansion, we will have solar cells at 100% of shopping centers in Sweden. To be able to do this together with such an experienced and serious supplier as Swede Energy should not only be an exciting journey, we also value the importance the work has for our environment, not at least locally where we have our tenants and visitors. Now the stores not only get green fossil-free electricity but also locally produced, says Patrik Sörnell, Director, Asset Management at Eurocommercial Properties.

With over 30 years of experience behind it, Swede Energy has knowledge of which constructions, elements and installations need to be made to have a future-proof plant. Everything from drawings, strength calculations, construction and engineering has been done by the solar engineers with great accuracy. Several of the shopping centers that receive solar energy on the roof have a few years on their necks and then it is extra important to take into account the strength of the roofs as all panels must load the roof. Today, with current solar panels, Eurocommercial has an annual production capacity of almost 500,000 KWh / year in Sweden. With this investment, capacity will be increased to as much as 2,000,000 KWh / year.

- “Working with the type of forces to which a roof is exposed is not something that can be taken lightly. It is both a question of personal safety in, for example in snowy winters, but also a question of the plant producing efficiently throughout its life, which is often over 20 years, says Christoffer Caesar, CEO of Swede Energy”.

More about Sweden Energy Power Solutions:
Swede Energy has over 30 years of experience in developing innovative and renewable energy plants with a unique design strategy that creates profitable and future-proof electricity production for industrial and commercial properties. www.swedeenergy.se

More about Eurocommercial:
Eurocommercial Properties (Eurocommercial) is a long-term investor and manager of mainly retail properties in Belgium, France, Italy and Sweden with assets over EUR 4 billion. The company was founded in 1991 and is a Euronext listed company with a broad shareholder base. https://www.eurocommercialproperties.com/property/sweden

© Modular Finance, source Nordic Press Releases

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Sales 2019 264 M 30,9 M 30,9 M
Net income 2019 -39,9 M -4,67 M -4,67 M
Net Debt 2019 756 M 88,6 M 88,6 M
P/E ratio 2019 -22,5x
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Capitalization 1 667 M 195 M 195 M
EV / Sales 2018 11,8x
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Stefan Ölander Chief Executive Officer & Director
Anna Kinberg Batra Chairman
Mats Bertil Holmfeldt Chief Financial Officer
Frederic Telander Director
Göran Starkebo Director