Savosolar signed final delivery contract with Grenaa Varmevaerk

Savosolar and Danish Grenaa Varmevaerk A.m.b.a. have signed a final delivery contract of a large solar thermal system. The final value of the deal is approximately EUR 3.5 million including a solar field of nearly 21,000 m2. The project is the largest in Savosolar’s history so far in both value and size. Savosolar published that the company had won the tender for this project on 9 May 2018.

The contract covers a turnkey delivery of solar thermal system to Grenaa Varmevaerk. Local partners will be co-operating with Savosolar in building and installing the system, in line with the company’s strategy. Majority of the works will be done mostly during this year. Hand-over is planned to take place at the end of February 2019.

“Co-operation between Savosolar and local partners will result in a world-class energy system for the customer. One of our most important co-operation partners is Verdo Energy Systems A/S, which is an experienced builder and operator of energy systems in Denmark and other countries. Together we have succeeded in offering a competitive solution for Grenaa Varmevaerk” says Jari Varjotie, Managing Director of Savosolar.

“I want to thank Grenaa Varmevaerk for their trust in our technology of the future. I also would like to thank Verdo Energy for a good start of our co-operation”, Mr Varjotie says.

SAVOSOLAR PLC

For more information:

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 29 May 2018 at 1 p.m. (CEST).

Savosolar in brief

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 17 countries on four continents. Savosolar’s shares are listed on Nasdaq First North Sweden with the ticker SAVOS and on Nasdaq First North Finland with the ticker SAVOH. www.savosolar.com.

The company’s Certified Adviser is Augment Partners AB, phone: +46 8-505 65 172.

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