Advanced Soltech's subsidiary in China, has signed an order with JingDeZheng TaoYuan Mining Co. Ltd. The order is for the installation of a solar energy plant of 5 megawatts (MW), which is estimated to generate annual revenues of approx. SEK 3.22 million, or approx. SEK 64.4 million during the 20-year term of the agreement. The investment in the facility, which will be owned by Advanced Soltech's wholly owned subsidiary in China, amounts to approx. SEK 26.65 million and construction is scheduled to start in the third quarter of 2021. This project which is located in JiangXi province has good profitability without subsidies.
Advanced Soltechs CEO Max Metelius comments:
--This is a large and very good project that fits perfectly in our project portfolio. We currently see strong demand for our offering in JiangXi Province.