Soltech's ASAB receives a new order, which gives 30 million SEK during the contract period
ASAB's wholly owned subsidiary in China, Advanced SolTech Renewable Energy Hangzhou Co. Ltd., ASRE, has signed an order with Jiangsu JinDi Wood Industry Co. Ltd. The order concerns the installation of a 1.6 megawatt (MW) solar power plant and is expected to generate annual revenues of approximately 1.5 million SEK, or approximately 30 million SEK during the contract's 20-year term.
The plant is estimated to produce approximately 1,728,000 kWh annually and the customer buys all the electricity that the plant produces for 20 years. The investment in the facility, which will continue to be owned by ASRE, amounts to approximately 9.94 million SEK and construction start is planned for Q2, 2020.
CEO Stefan Ölander comments:
- We end the week with another order under the exclusive five-year cooperation agreement signed in the spring of 2019 with the Jiangsu Siyang Administrative Committee of Economic Development Zone in Jiangsu Province, on the construction of 500 megawatts (MW) of solar energy capacity (100 MW per year for five years).
For more information contact: Stefan Ölander, CEO Soltech Energy Sweden AB (publ) Tel: 070-739 80 00. E-post: email@example.com
The information in this press release is such that Soltech Energy Sweden AB (publ) have to to publish in accordance with EU Regulation No 596/2014 on market abuse. The information was provided through the above contact person's publication for publication on January 24, 2020 at. 07.15 CET.
About Soltech Energy Sweden AB (publ) Soltech Energy is a comprehensive supplier that develops, sells, installs and optimizes solar energy solutions for our customers' needs. The group includes the subsidiaries Advanced Soltech Sweden AB (publ) where the Chinese investment is conducted, Soltech Sales & Support, NP-Gruppen, Swede Energy Power Solutions, Merasol and Soldags. Soltech Energy Sweden AB (publ), is traded on Nasdaq First North Growth Market under the short name SOLT and has approximately 31,000 shareholders. The company's Certified Adviser is Erik Penser Bank. Phone: 08-463 83 00. Email: firstname.lastname@example.org. For more information see: www.soltechenergy.com
About the China venture Soltech Energy’s investment in China is conducted in Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd., ASRE and Longrui Suqian (LSE). The business model consists of ASRE and LSE financing, installing, owning and managing solar energy installations on customers’ roofs in China. The customer does not pay for the solar facility, but instead commits to purchase the electricity that the plant produces during a 20-year agreement. ASRE’s current revenue comes from the sale of electricity to customers and from various forms of subsidies per produced kilowatt hour (kWh) of solar electricity. The goal is to have an installed capacity of 1000 megawatts (MW) fully connected to the electricity grid in 2024
Our mission is to accelerate the transition to solar energy where the need is greatest. In China we add real value by investing in solar power replacing coal, which accounts for nearly 70 per cent of electricity generation. An investment in Advanced Soltech generates both good financial returns and benefits the environment.
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