Hareon Solar signs multiple PV project deals totalling 3,350MW

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China-based PVEP, Hareon Solar Technology has signed a number of project development deals in China and Turkey totalling around 3,350MW. The company has also secured lines of credit with two Chinese banks totalling RMB20 billion (US$3.25 billion).

Hareon Solar’s overseas project pipeline through 2017 recently stood at around 6.27GW. A key portion of the pipeline was in Turkey at around 3.3GW.

The company said in financial filings in China that it had signed a cooperation framework agreement with the Turkish Agricultural Credit Cooperative Central Union (TKKB) and Swiss-based ILB Helios Energy to build PV power plant projects in collaboration with TKKB’s 11 million farmer members totalling around 2.5GWp over the next three years.

An initial ‘Pilot’ project totalling 300MW was said to be the first phase of the partnership that is expected to complete planning phase in the third or fourth quarter of 2014.

The tie-up with TKKB and ILB Helios Energy was said to include farmers direct involvement in the projects ongoing maintenance such as cleaning.

In separate announcements with Chinese regional governments, Hareon plans a mixture of Distributed Generation (DG) and unspecified PV projects totalling around 700MW.

DG framework agreement projects totalling 100MW were signed with Chicheng Industries Demonstration Zone in Chicheng County, Zhangjiakou City, Hebei province.

First phase project being planned is for a 20MWp distributed project. While a second-stage investment is planned in building capacity for 40MWp of DG projects within the zone. The third-phase investment was said to be planned for a further 40MWp of DG projects over the next few years.

A similar 100MW deal was signed for rooftop projects at Akagi Park spanning 1.2 million square metres. The first phase would be 20MWp project followed by two 40MWp projects as part of the second phase, while a third phase 40MWp investment would be carried-out in three phases.

The final major deal was with the Suihua City Industrial Park for a total of 500MW. First phase would be a feasibility study, project, design and evaluation work, and a 6MWp DG demonstration power plant. The rest of projects were planned to be rooftop orientated.

Hareon Solar also issued statements on securing lines of credit with the Bank of China, Suzhou branch, totalling RMB10 billion (US$1.625 billion), via a subsidiary and a further US$1.625 billion credit line with Bank of Communications, Suzhou branch, secured directly through Hareon Solar.

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