SolTech's subsidiary, Advanced SolTech intends to issue new green senior secured corporate bonds

SolTech Energy Sweden AB (publ) subsidiary, Advanced SolTech Sweden AB (publ) ”ASAB” intends to issue new green covered senior corporate bonds under ASAB’s green bond framework of SEK 1,500 million. The first bond, SOLT5, was subscribed for SEK 170 million and was admitted to trading on First North Sustainable Bond Market on March 21, 2019. This second issue under the green framework amounts to SEK 110 million and the net proceeds are set aside to finalize an existing solar energy portfolio of 21, 4 MW, consisting of 15 roof-based solar power plants in China which annually generates about 19% return on invested capital. The remaining part of the net proceeds is set aside to repay ASAB’s first bond SOLT1, which was issued in June 2016 and which is due for repayment on June 14, 2019.

ASAB’s business is to finance solar power plants in China that are installed, owned and continuously maintained by the SolTech Group’s Chinese joint venture, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. “Asre”. Including the acquisition of the 21.4 MW large portfolio, the total capacity will amount to approximately 93 MW. The organizer of the transaction is JOOL Markets. For further information, please see the investor presentation at: http: //www.soltechenergy.com/en/investors/advanced-soltech-sweden-ab-publ/

Frederic Telander in a comment:
– With SOLT5, we have made an entry into the institutional bond market, which is also required to finance our ongoing order flow and the cooperation agreements we have. Our goal is to reach 605 MW in installed capacity in 2021 which is fully connected to the electricity grid by 2022. We currently have cooperation agreements corresponding to 650 MW, 27.5 MW in the order book, 12 MW during construction and a project pipeline of over 90 MW which we continuously process.

For more information, please contact: Frederic Telander, CEO of Advanced SolTech Sweden AB (publ) Tel: +46 8 441 88 46. E-mail: frederic.telander@soltechenergy.comellerStefan Ölander, CEO SolTech Energy Sweden AB (publ) Tel: +46 70 739 80 00. E- post: 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 April 25, 2019 at. 09:00 CEST.

 

Advanced SolTech Sweden AB (publ) – ASAB
In order to continuously finance the investments in China, the SolTech Group’s parent company and its partners in China, Advanced Solar Power Hangzhou Inc., have formed ASAB. ASAB’s business is to finance solar energy plants in China which are owned and maintained by ASRE or its wholly-owned subsidiaries through lending to Group companies. As collateral for borrowed funds, collateral is obtained in underlying assets (solar power plants and accounts receivable). The company’s Certified Adviser at First North Bond market is Mangold Fondkommission AB, telephone +46 8 5030 1550. Email: ca@mangold.se. More info at www.advancedsoltech.com

 

About SolTech Energy Sweden AB (publ)
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, the NP Group and Swede Energy, as well as 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 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 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 under a 20–25 year contract. ASRE’s current 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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