Gigasun AB (publ)'s subsidiary in China, has signed an order with a company active in the automotive industry. The order is for the installation of a solar energy system of approximately 4.15 megawatts and is estimated to provide annual revenues from electricity sales of approximately SEK 2 million, or approximately SEK 40 million during the 20-year term of the agreement. The investment in the plant, which will be owned by Gigasun's wholly-owned subsidiary in China, amounts to approximately SEK 18.2 million and construction is planned to start in the fourth quarter of 2024.

In this case, all electricity produced will be sold directly to the grid, which also reduces counterparty risk. The project is in Hubei province and is profitable without any subsidies. The annual savings of carbon dioxide emissions are estimated at approximately 2000 tons.