Gigasun’s wholly owned subsidiary in China has entered into agreements with three different companies for the installation of three new solar energy facilities with a combined capacity of approximately 9.6 megawatts (MW).
The plants are expected to generate annual revenues of approximately SEK 4.6 million from the sale of electricity, which corresponds to a total order value of approximately SEK 92 million over the 20-year term of the agreement.
The investment in the facilities amounts to approximately SEK 42 million and the project is planned to commence in the third quarter of 2026. The plants will be owned and operated by Gigasun's subsidiaries and are expected to reduce carbon dioxide emissions by approximately 4,900 tonnes per year. The projects are fully commercially viable without the need for government subsidies.
The solar power plants will be built in ChongQing and Anhui Province.
CEO Max Metelius comments:
Despite ongoing changes in the Chinese solar energy market, our new sales continue. The focus is on profitable growth, and recent developments with lower financing costs improve the conditions for new investments.