Savosolar signed the partnership agreement with Jiangsu Holly Environmental Technology Industrial, a subsidiary of Jiangsu Holly Corp engaged in cross-sector manufacturing and trade.
The collaboration will see Jiangsu Holly sell and deliver solar thermal systems featuring Savosolar’s technology in China. The Finnish company will also establish a local presence in the country to support the operations.
“This is a great milestone in our strategic plans, and we are extremely happy and proud that Jiangsu Holly has chosen us as their partner,” said Jari Varjotie, CEO of Savosolar. “They have already established a team for Savosolar’s business. More importantly, Jiangsu Holly has extremely good connections throughout China and especially in their home province Jiangsu, which will prove an asset when tapping into potential projects and acquiring customers.”
Savosolar’s current CFO, Rauli Ikonen, will take up the position of country manager in China and be based in Shanghai. His main task will be to initiate the partnership and implement Savosolar’s local strategy.