Advanced Soltech signs SEK 6 million order in China 

Advanced Soltech’s subsidiary in China, has signed an order with Anhui GaoJian Machinery Technology Co. Ltd, the company announced on 15 September.

Advanced Soltech is a solar energy company started by Swedish SolTech Energy Sweden AB (publ) and Chinese Advanced Solar Power Hangzhou Inc. According to the company statement, the new order concerns an installation of a solar energy plant of 0.4 megawatts (MW) and is estimated to generate annual revenues of approximately SEK 0.3 million, or approximately SEK 6 million during the agreement’s 20-year term. 

The investment in the facility, which will be owned by Advanced Soltech’s wholly-owned subsidiary in China, amounts to approximately SEK 2.3 million, and construction is planned to start in the fourth quarter of 2021. The project achieves good profitability completely without subsidies and is located in Anhui Province.

Advanced Soltech’s CEO Max Metelius comments, “We are continuing our expansion in Anhui Province, which is in line with our expansion plans. We are experiencing good demand for our offer and continue to build up a strong order book for the fourth quarter.”

About Gregers Møller

Editor-in-Chief • ScandAsia Publishing Co., Ltd. • Bangkok, Thailand

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