Energia
Savosolar Oyj: Chinese competitor wins the large system project tender in China - Beijing Yuxin Solar Energy and Savosolar continue building cooperation in China
Savosolar Plc
Company Announcement 30 April 2018 at 2 p.m. (CEST)
Negotiations by Beijing Yuxin to deliver a solar thermal field to a local energy company have ended and a Chinese competitor has been chosen as a supplier of the project. Beijing Yuxin Solar Energy was to build the field as a turnkey delivery using solar thermal collectors of Savosolar, and the commercial value of the delivery to Savosolar was estimated to be approximately EUR 3-4 million.
Savosolar's strategy to enter the Chinese market by and with a local partner has not changed, and Savosolar and Beijing Yuxin Solar Energy continue building their cooperation concerning sales and manufacture of collectors for the Chinese market in form of eventual licensing or joint venture arrangement. In cooperation with Yuxin Savosolar would be in a strong position to take a remarkable share in the large solar thermal systems market in China, which is estimated to continue growing strongly. Savosolar has already delivered to Yuxin few collectors, which are used for demonstration and marketing purposes and for certification tests needed in China.
SAVOSOLAR PLC
Savosolar Plc
Managing Director Jari Varjotie
Phone: +358 400 419 734
E-mail: jari.varjotie@savosolar.com
This company announcement contains information that Savosolar Plc is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication by aforementioned contact person on 30 April 2018 at 2 p.m. (CEST).
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