PV module manufacturer and project developer, Hareon Solar expects to sell two small PV power plants in the province of Cassano in southern Italy to China Merchants New Energy Group affiliate for a total of €35.33 million (US$39.85 million).
PV power plant, Cassano 1 and 2 have installed capacity of 8.8MW and 4.3MW respectively. Cassano 2 was grid connected in November 2011 and Cassano 1 in March 2012.
Renewable Energy Trade Board Corporation (RETBC), an affiliate company of China Merchants New Energy Group (CMNE) was said by Hareon Solar to be acquiring the plants from its German subsidiary, which has been active in PV projects.
RETBC was said to be a new clean energy industry group focused on the Chinese and European markets.