The delivery of the collectors and the fields is estimated to take place during the first half of 2018 if Yuxin wins the project bid in domestic China. The companies continue negotiating on the final contract during the next few weeks, and if the negotiations lead to an actual contract, the value of the delivery for Savo-Solar would be approximately EUR 3-4 million.

The companies are at the same time negotiating also on further cooperation in form of eventual licensing or joint venture arrangement for collector manufacturing for Chinese market. Then Savo-Solar would be in a strong position with Yuxin to take a remarkable share in the large solar thermal systems market in China, which is estimated to grow enormously. According to the initial plan, a part of the collectors in the above mentioned first delivery would already be assembled in China, while all of the absorbers would be manufactured in Finland.

Yuxin is a Chinese private limited liability company, which was founded in 2000. The company has a solid expertise in solar water heaters manufacture, solar thermal project design and photovoltaic engineering.

Jari Varjotie, Managing Director of Savo-Solar Plc: "China has for a long time been the world's biggest market for solar thermal water heaters. Today also China is experiencing the trend to invest in larger systems to further improve the efficiency and economy of the systems thus reducing the emissions as well as bringing clean energy in areas where infrastructure is not completed yet. So the market for large solar thermal systems is forecasted to grow very fast and to be enormous.

"We are very proud to have this opportunity to bring our leading technology to the market with Yuxin, who has the competences and experience to sell and deliver the turn-key systems in China. We hope we can finalize the contract for the first delivery very fast and then build our long term cooperation based on that. We believe that the high volumes in China will help us in sourcing of materials and further improve the competitiveness of our solutions also in our deliveries in Europe and elsewhere."