Greenfield Infrastructure Partners advises Advanced Soltech Sweden AB (publ) on SEK 820 million refinancing deal, China’s largest commercial and industrial solar financing deal in 2023

Press Release
14 June 2023

Greenfield Infrastructure Partners (“Greenfield” or “GIP”) has successfully advised Advanced Soltech Sweden AB(“ASAB”) on a SEK 820 million (approx. CNY 541 million) financial facility from Jiangsu Financial Leasing Co.,Ltd (“Jiangsu Leasing”). GIP acted as financial advisor on behalf of ASAB.

Advanced Soltech is a solar energy development company founded by SolTech Energy Sweden AB (publ.) and Advanced Solar Power Hangzhou Inc, listed on Nasdaq first North Growth Market in Sweden.

Advanced Soltech Sweden AB was founded in 2014. The same year the company’s first two solar installations of 445 kW were built in China. From 2015 to 2022, the company’s expansion of installations accelerated with very strong growth and the installed capacity today is more than 250 MW with over 150 solar projects all across China.

Greenfield Infrastructure Partners, founded by renewable energy expert and partner at GCL Group, Mr. Aron Fredriksson, is an international impact investment and advisory company with expertise in clean energy investments and financing, focusing on the renewable energy sector in China and Globally.

GIP was engaged to raise financing via local Chinese finance institutions and worked closely with Advanced Soltech to prepare the debt offering and assisting in structuring the deal. The financing is a so-called sales and leaseback financing facility, the first of its kind involving more than 150 projects and approximately 250MW of operating solar energy assets.
 

ASAB CEO’s comment

”The refinancing in China of the outstanding bonds is very positive. We achieve lower interest and tax costs, while we also almost eliminate the currency risk. With the new refinancing, we have limited the collaterals for the current refinancing, and by that, created a good refinancing platform to achieve our goal of 1 GW installed, and at the same time laid the foundation for continued profitable growth.”, comments Max Metelius, CEO.

  GIP Founder’s Comment

 “It has been a pleasure to work with Advanced Soltech on this financing solution. This            is the single largest green financial deal in the Chinese industrial and commercial solar segment in 2023 and it enables a new path forward for Advanced Soltech to grow. It warms my heart extra when we can support Nordic companies in China. We look forward to continuing our relationship with Advanced Soltech as they develop their energy business in the country” , comments Aron Fredriksson, Founder.

Greenfield Infrastructure Partners

12 Marina View, #12-05 Asia Square Tower 2, Singapore 1539 Nanjing W Rd, 31F,200040, Jing’an District
Shanghai, China
 www.greenfieldip.com