Contracts have been finalized with Ningbo Harbor Cold Storage and Transportation Center specifying the emplacement of a solar energy installation capable of producing the equivalent of 1.2 MW (1,200,000 watts) of electricity. The system, which is planned to be in operation during the fourth quarter of 2015, is jointly owned by SolTech and the Company’s local partner in China, Advanced Solar Power Hangzhou Inc. (ASP), Total cost of investment amounts to approximately 12 MSEK (12 million Swedish crowns), and the customer is committed to buying all the electricity the system produces.
The system’s annual production of electricity is estimated to be in the area of 1,320,000 kWh, generating a corresponding income of approximately 2.68 MSEK, or 22.3% on invested capital. Over the length of the contract, 20 years, generated income is calculated to mount to 53.6 MSEK.
- Ningbo Harbor is the largest port in the world, reckoned in terms of cargo tonnage. The roof of the customer’s facility is approximately 86,000 square meters, of which we only take up approximately 15,000 sq. m for this installation. “Here, there is definite potential for substantial follow-up business with the same customer,” observes SolTech’s President, Frederic Telander, in a report.
- “The goal for 2015 is to install and produce 5 MW and, by the start of 2019, possess an installed and operative electrical production capacity equivalent to 230 MW. The business model is well-proven by, among others, First Solar and Solar City in the United States, and gives a stable and good return for many years; something all investors appreciate,” summarizes CEO Frederic Telander.
For more information, please contact
Frederic Telander, CEO SolTech Energy
Phone: +46 8 441 8846
Collaboration with Advanced Solar Power
The Company’s business interests in China are carried out by a jointly owned company, of which SolTech owns 51% and Advanced Solar Power Hangzhou Inc. 49%. The business model consists of said jointly owned company being responsible for the installation, ownership, and periodicm aintenance of solar energy installations that are installed on customers’ roofs, most particularly for the present, in Hangzhou in the province of Zhejiang, with a view to then expanding to other regions in China. The customer does not pay for the installed solar energy unit, but instead undersigns a long-term (20+ years) binding contract to buy all the electricity and/or thermal heat the relevant unit produces.
SolTech Energy in Brief
SolTech Energy develops and sells a solar energy system based on research carried out over several years at Kungliga Tekniska Högskolan (KTH- Royal Institute of Technology). The system is a part of a building’s outer shell; specifically, roofs and/or walls formed of glass (panels or flat sheets) that function as both weather protection and sun-catchers for the production of heat, hot water and electricity. The assortment of suitable glass also includes unique fine-film solar cells in black and/or semi-transparent glass – or as isolated glass modules in various sizes and formats that allow for esthetic integration with a building’s outer shell.
The wholly owned subsidiary Wasa Rör T Mickelsson AB is also included in the parent concern. SolTech Energy Sweden AB currently has approximately 5,600 shareholders and its shares are traded on First North at Nasdaq Stockholm, under the symbol “SOLT”. The company’s Certified Advisor is G&W Fondkommission (securities broker). For more information see: www.soltechenergy.com.