Advanced SolTech Sweden

Advanced Soltech's subsidiary in China, has signed an order with Fujian XinShunXing Decoration Materials Co Ltd, a company in the manufacturing industry. The order applies to the installation of a solar energy plant of approx. 1 megawatt (MW) and is estimated to generate annual income from electricity sales of approx. 0.88 MSEK, or approx. SEK 17.6 million during the agreement's 20-year term. The investment in the plant, which will be owned by Advanced Soltech's wholly owned subsidiary in China, amounts to approx. SEK 6.4 million and construction start is planned for the third quarter of 2022. The annual savings in carbon dioxide emissions are estimated at 665 tonnes. The project achieves good profitability without subsidies and is in Fujian Province.