Hareon Solar and ILB Helios sign 6.2GW deal for planned PV power plants

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China-based PV manufacturer and project developer, Hareon Solar Technology Corp has signed a major project development framework agreement with Swiss-based PV developer, ILB Helios.

The framework agreement covers plans for the construction of PV power plants in Europe, the Middle East and Africa totalling 6,271MWp.

Hareon Solar said in a financial statement that the project development schedule ran from 2014 through 2017. Both companies have co-operated previously on a total of 150MWp of PV projects mainly located in Bulgaria and Romania.

JV project pipeline

The partners expect to develop around 254MWp in 2014, according to documents, which include 29MW of projects in the UK and 225MWp in Turkey. A small 0.1MWp project is also planned this year in Jordan.

The project pipeline really gets started in 2015, with the partners planning 2.17GW of projects. Turkey remains the key country with plans for 1.25GW of projects, followed by 160MWp in Jordan.

A total of 100MWp of projects are planned for Macedonia, Iran and Iraq, while projects totalling 110MWp are planned in Kazakhstan next year.

The peak in the project development framework agreement appears in 2016, when the companies plan over 2.8GW of projects, declining to just over 1GW of projects in the final year of the agreement in 2017.

The main country targeted for projects is Turkey at over 3.3GW over the period of the agreement.

As a framework agreement, financing and project approvals as well as defined roles of the partners were not disclosed.

India plans

In a separate financial filing, Hareon Solar said it would establish a subsidiary in India in preparation of building PV projects in the country.

The company noted the goals of the India Government to install 20GW of PV by 2020 and 2GW of off-grid projects under its ‘Solar Mission’ objectives.

Hareon Solar expects to provide PV products and undertake projects across these markets.
 

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