Advanced SolTech Renewable Energy Hangzhou Co.Ltd (ASRE)

ASRE is a joint venture with the Swedish company SolTech Energy Sweden AB (publ) which is listed on NASDAQ Stockholm.


SolTech Energy holds 51 percent and Advanced Solar Power Hangzhou Inc. (ASP), holds 49 percent.


The business model is to finance, install, own and continuously maintain solar installations on customers' roofs. The customer does not pay for the facility, but undertakes to instead, under long-term contracts (20-25 years) buy all the electricity and/or thermal heating that each plant produces. ASREs operating income comes from the sale of electricity and/or thermal heat to customers in combination with different forms of subsidiaries per kWh. The goal is to in 2019 hold an installed capacity of around 230 megawatt (MW) that in 2020 is fully deployed and generates a current annual turnover of around 318 million RNB. More info about SolTech: www.soltechenergy.com