China-based PV manufacturer and developer Hareon Solar Technology has signed a cooperation framework agreement with the Management Committee of Jiangning, Nanjing high-tech Park, China that includes 150MW of distributed rooftop PV projects.
Hareon Solar said in a financial filing that the high-tech park projects would be split into three 50MW phases. No timeframes were provided for the phases but the company noted each phase would require an investment of around 450 million Yuan (US$72.23 million).
The agreement should lead to an investment requirement of 1.35 billion yuan (US$219.6 million).
The latest framework agreement adds to a string of recent signings by the company that total over 6.4GW through 2017. A key portion of the pipeline was in Turkey at around 3.3GW.
Hareon Solar is also raising approximately US$618 million in a non-public offering of shares to fund several key PV projects and expansion of its manufacturing operations.