SolTech's ASRE connects 7.38 MW to the grid, which generates SEK 169 million in revenue during the term of the agreement of 20 years

SolTech Energy’s jointly owned company ASRE in China is now in a total of 63 connected solar power plants, corresponding to 68.38 megawatts (MW). The connected facilities are calculated on a rolling 12-month basis to generate approximately SEK 84.5 million in revenue with good profitability.

CEO Stefan Ölander in a comment:
– The business situation is still very good in China and we expect to deliver even more business soon, and not least plants that are connected to the electricity grid and generate revenue.
For more information, please contact: Stefan Ölander, CEO of SolTech Energy Sweden AB (publ. Tel: +46 70 739 80 00. Email: stefan.olander@soltechenergy.com
The information in this press release is such that SolTech Energy Sweden AB (publ) must publish in accordance with EU Regulation No. 596/2014 on Market Abuse. The information was submitted through the above contact person’s agency for publication on January 25, 2019 at. 07:00 CET.

About SolTech Energy
SolTech Energy develops and sells aesthetic and building-integrated solar energy products for all types of real estate – commercial, public and residential. The products are part of a building’s outer shell in the form of a roof or a wall with integrated solar cells for the production of electricity. The Group also conducts operations in China where the business model consists of financing, owning and operating solar power plants on customers’ roofs and selling all the electricity that is produced. The Group also includes the subsidiaries Nyedal Solenergi and the NP Group and the jointly owned companies ASAB in Sweden and ASRE in China. SolTech Energy Sweden AB (publ) is traded on First North at Nasdaq Stockholm under the short name SOLT and has about 15,000 shareholders. The Company’s Certified Adviser is Erik Penser Bank Telephone: +46 8 463 83 00. Email: certifiedadviser@penser.se. More info at: www.soltechenergy.com

About the Chinese initiative
SolTech Energy’s investment in China is conducted in partnership with our partner, Advanced Solar Power Hangzhou Inc, through the joint venture, Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd. (ASRE). The business model consists of ASRE financing, installing, owning and running solar energy installations on customers’ roofs. The customer does not pay for the facility, but instead undertakes to buy all electricity produced by each plant during a 20-25 year contract. ASRE’s income comes from the sale of electricity to the customers and from various forms of grants per kWh produced. The focus now is on building an order backlog for 2019 and onwards with the goal of having an installed capacity of 605 megawatts (MW) in 2021.

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