Advanced SolTech Sweden AB/News/Advanced Soltech's bond SOLT2 is extended in accordance with the company's request

Advanced Soltech's bond SOLT2 is extended in accordance with the company's request

01 February 2023 - 07:30

Advanced Soltech requested on January 4, 2023, an extension of the SOLT2 bond with repayment on February 28, 2023. The proposal has been voted through according to the Company's request, which means that the last day for repayment of the bond is moved forward to July 9, 2023.

CEO Max Metelius comments:

"We thank our bondholders in SOLT2 for their continued trust and are now working further with refinancing in China of the outstanding bonds. Our assessment is that we will have a good solution in place before July 9. We can now focus on finding a good refinance structure to promote future growth."

About the China venture

in China ASAB operates through, its wholly owned local subsidiaries Advanced Soltech Renewable Energy (Hangzhou) Co. Ltd, ASRE and Longrui Solar Energy (Suqian) Co. Ltd. The business model consists of financing, installing, owning and managing solar energy installations on customers' roofs in China. The customer does not pay for the plant, but instead enters an agreement to buy the electricity that the plant produces under a 20-year agreement. Current income comes from the sale of electricity to customers and from subsidies. The goal is to have an installed capacity of 1,000 megawatts (MW) which is fully connected to the electricity grid by 2024.

ASRE and Longrui Solar Energy (Suqian) Co. Ltd. are wholly owned subsidiaries of Advanced Soltech Sweden AB (publ).

Provided by: MFN

Advanced SolTech Sweden AB

Advanced SolTech operations consist of financing the construction of solar power plants in China, which are installed, owned and maintained by the SolTech Group’s jointly-owned Chinese company, Advanced SolTech Renewable Energy Hangzhou Co. Ltd....

Learn more about company

Related news

23.03.2023

Aker Horizons AS

Aker Horizons ASA: Notice of Annual General Meeting

The meeting will be conducted as a virtual meeting only, accessible online via Lumi AGM. All shareholders will be able to participate in the meeting, vote and ask questions from smartphones, tablets or desktop devices. For further information regarding electronic participation, please refer to the g...

23.03.2023

Aker Horizons AS

Aker Horizons ASA: Annual and Sustainability Report 2022

About Aker Horizons Aker Horizons develops green energy and green industry to accelerate the transition to Net Zero. The company is active in renewable energy, carbon capture and hydrogen and develops industrial-scale decarbonization projects. As part of the Aker group, Aker Horizons applies industr...

23.03.2023

TECO 2030 ASA

TECO 2030 signs an MOU with an undisclosed party for up to 50MW of hydrogen engines

(Lysaker, Norway, March 23rd 2023) TECO 2030 (OSE: TECO, OTCQX: TECFF, ISIN: NO0010887516) has signed an MOU with an undisclosed party for cooperation on several fuel cell projects which in total could represent 50MW of fuel cell output. The projects represent marine fuel cells- and on-shore station...

22.03.2023

BW Ideol AS

BW Ideol entered into exclusive negotiations to raise € 40 million from ADEME Investissement to co-fund the growth of its project development activities

Creation of a subsidiary for all BW Ideol’s co-development activities (“BW Ideol Projects Company” or “DevCo”)Initial investment of € 16.7 million by ADEME Investissement (“First Closing”)Further capital injections for a total of € 23.3 million based on project funding calls for each of ADEME Invest...