SolTech’s subsidiary, Advanced SolTech, issues senior secured green corporate bonds

SolTech Energy Sweden AB (publ.) subsidiary Advanced SolTech Sweden AB (publ.) ”ASAB” issues SOLT5, senior secured green bonds within
ASAB’s green bond framework, with volume amounting to
170–240 MSEK. This issue is the first in a bond-issue framework of up to 1,500 MSEK. The bonds are intended to be listed on First North Sustainable Bond Market, with the net proceeds allocated to financing the acquisition of an existing 24 MW solar energy portfolio, consisting of 17 separate solar energy installations. Application of the remaining portion of the bond-issue framework is intended for financing achievement of the growth goal in China set for 2019.

 

ASAB’s business operation consists of financing solar energy installations in China, which are installed, owned and periodically serviced by the SolTech concern’s subsidiary, Advanced SolTech Renewable Energy Hangzhou Co. Ltd. ”ASRE”.

On a rolling 12-month basis, ASRE’s existing solar energy portfolio – containing a total capacity of circa 60 MW- is expected to generate approximately 70 MSEK in annual income. Following the above-cited bond issue and completed portfolio acquisition, ASRE’s total portfolio is expected to generate approximately 119 MSEK in annual income. For further information, please see the investor presentation at: http://www.soltechenergy.com/sv/investerare/advanced-soltech-sweden-ab-publ/

The organizer of this transaction is JOOL Markets

For more information, please contact: Frederic Telander, CEO Advanced SolTech Sweden AB (publ.). Tel: 070-525 16 03, email: frederic.telander@soltechenergy.com

The information contained in this press release conforms to that which SolTech Energy Sweden AB (publ.) is required to make public according to the EU’s regulation 596/2014 concerning securities market abuse. Said information is furnished, via the above-cited contact person’s authorization, for publication on 10 December 2018, 08:00 CET.

Advanced SolTech Sweden AB (publ) – ASAB
With the goal of providing current financing for investment in China, the parent SolTech concern and its partner in China, Advanced Solar Power Hangzhou Inc., have created ASAB. The mission of  ASAB’s business operation is to finance, by means of making loans to concern companies, solar energy installations in China that are owned and periodically serviced by ASRE or its wholly owned local subsidiaries. Security for the loaned-out funds consists of the underlying assets (solar energy installations and customer receivables). The Company’s Certified Advisor Mangold Fondkommission AB ,telephone no. +46 8 5030 1550.For more info see: www.advancedsoltech.com

 SolTech Energy in brief
SolTech Energy develops and sells esthetic, building-integrated solar energy products for all forms of building structures – commercial, public and residential. The products are part of a building’s outer shell, as a roof or wall, with integrated solar cells for the production of electricity. The concern also operates in China, where the business model consists of financing, owning and servicing solar energy installations on the roofs of customer owned facilities, and of selling all the electricity these installations produce. Soltech Energy Sweden AB (publ.) is traded on First North at Nasdaq Stockholm, under the symbol “SOLT” and has over 15,000 shareholders. Also included in the concern are its jointly owned  (51% ) subsidiaries ASAB in Sweden and ASRE in China. The company’s Certified Advisor is Erik Penser Bank. For more information see: www.soltechenergy.com

Investment in China
SolTech’s investment in China is carried out by Advanced SolTech Renewable Energy (Hangzhou) Co. Ltd (ASRE), which is jointly owned by our partner, Advanced Solar Power Hangzhou Inc. (ASP). The business model consists of having ASRE finance, install, own, and periodically service solar energy installations mounted on the roofs of customer-owned facilities. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term, 20-25 year contract to buy all the electricity the relevant unit produces. ASRE’s current income comes from the sale of electricity to customers, along with various forms of subsidies based on kWh production. Focus is now concentrated on building a backlog of orders for 2019 and beyond, with the goal of obtaining an installed capacity of 605 MW (megawatts) by the close of 2021, which in 2022 will be set into full operation, generating current annual sales amounting to approximately 1 billion SEK (ca. 100 MEUR).

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