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Savosolar wins tender in China to deliver solar heating system to Guangzhou Power Supply Bureau, Guangdong Power Grid Co., Ltd.

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Savosolar Oyj
·3-min read
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Savosolar Plc
Company Announcement, Insider information 28 April 2021 at 3.15 p.m. (CEST)

Savosolar wins tender in China to deliver solar heating system to Guangzhou Power Supply Bureau, Guangdong Power Grid Co., Ltd.

Savosolar Plc is selected as the winning bidder to deliver a solar heating system to Guangzhou Power Supply Bureau, Guangdong Power Grid Co., Ltd. (later Guangzhou Power Supply) in China. The value of the system is approximately EUR 500 thousand. Both parties are aiming to finalize the contract within four weeks’ time. Once the contract is signed, the delivery of the system is expected in the autumn 2021 and to be operational by the end of this year. Savosolar large collectors will be installed on a tracker following the sun and maximizing the clean energy output from limited installation space. Project is the first realized pilot project in China Finland energy collaboration, which was agreed between the governments few years ago.

Jari Varjotie, CEO of Savosolar: “We are very pleased that Guangzhou Power Supply has seen our solution as the best fit for their needs in terms of innovation and high energy yield from a relatively small installation footprint. Savosolar’s system will be part of an advanced multi-energy network by Guangzhou Power Supply, which is a subsidiary of China Southern Power Grid, a large state-owned Fortune Global 500 company. As our first reference in China, we believe that it will showcase the advantages of Savosolar in the world’s largest solar heating market.”

SAVOSOLAR PLC

For more information:

Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com

Savosolar Plc discloses the information provided herein pursuant to the Market Abuse Regulation ((EU) No 596/2014, ”MAR”). The information was submitted for publication by the aforementioned person on 28 April 2021 at 3.15 p.m. (CEST).

About Savosolar

Savosolar with its highly efficient collectors and large-scale solar thermal systems has taken solar thermal technology to the next level. The company’s collectors are equipped with the patented nano-coated direct flow absorbers, and with this leading technology, Savosolar helps its customers to produce competitive clean energy. Savosolar’s vision is to be the first-choice supplier to high performance solar installations on a global scale. Focus is on large-scale applications like district heating, industrial process heating and real estate systems – market segments with a big potential for rapid growth. The company primarily delivers complete systems from design to installation, using the best local partners. Savosolar is known as the most innovative company in the business and aims to stay as such. The company has sold and delivered its products to almost 20 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Growth Market Sweden with the ticker SAVOS and on Nasdaq First North Growth Market Finland with the ticker SAVOH. www.savosolar.com.

The company’s Certified Adviser is Augment Partners AB, info@augment.se, phone: +46 8-604 22 55.