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Gigasun signs an order in China that generates a total of approx. SEK 36 million during the contract period

Gigasun's subsidiary in China, has signed an order with a Chinese company in heavy manufacturing. The order is for the installation of a solar energy plant totalling approximately 4.0 megawatts (MW). The plant is estimated to generate annual revenues from electricity sales of approximately SEK 1.8 million, or approx. SEK 36 million during the 20-year term of the agreements. The entire electricity production is sold to the grid.

The investment in the plant, which will be owned by Gigasun's wholly-owned subsidiary in China, amounts to approx. SEK 16 million and construction is planned to start in the second quarter of 2025. The annual saving of carbon dioxide emissions is estimated at 2000 tons.

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

Gigasun's CEO Max Metelius comments:

"We continue to secure profitable projects with low counterparty risk, which shows that there are good opportunities for continued growth, despite a turbulent geopolitical environment."

For more information, please contact:

Max Metelius, CEO Gigasun AB (publ)
Phone: +46 (0) 72 316 04 44
E-mail: max.metelius@gigasun.se

Stefan Salomonsson, CFO Gigasun AB (publ)
Phone: +46 (0) 70 220 80 00
E-mail: stefan.salomonsson@gigasun.se

Certified Advisor is FNCA Sweden AB

About the operation

Gigasun operates in China through its wholly owned subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd (“ASRE”) and Longrui Solar Energy (Suqian) Co. Ltd. (“SQ”), and Suqian Ruiyan New Energy Co., Ltd. (“RY”).

The business model consists of financing, installing, owning and managing solar PV installations on customers' roofs in China. The customer does not pay for the solar PV installation, but instead enters an agreement to buy the electricity that the solar PV installation produces under a 20-year agreement. Current income comes from the sale of electricity to customers and governmental subsidies.

The goal is to have an installed capacity of 1,000 megawatts (MW) which is fully connected to the electricity grid by 2026.

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Gigasun signs an order in China that generates a total of approx. SEK 36 million during the contract period

Datum 2025-03-05, kl 14:45
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Gigasun signs an order in China that generates a total of approx. SEK 36 million during the contract period
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