Major Chinese PV manufacturer and project developer Hareon Solar has established a US subsidiary as it looks to explore opportunities in the downstream market.
Hareon Solar USA Corporation has established Armona H1 LLC, which will develop solar plants in the US. It will begin with the purchase of a 500kW project at Armona Union school in California.
According to documents translated by PV Tech, the company could then be sold in part or full along with the corresponding share of the projects.
Hareon Solar USA Corporation has invested US$1 million in the venture.
Two separate subsidiaries in China, being established for the same purpose, were also announced in the same documentation.
Translation by Huangye Jiang.