Hareon Solar to invest US$294 million in 200MW of northern China projects

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China-based PV manufacturer Hareon Solar has announced that it will develop 200MW of solar power plants in northern China, after the company’s board of directors approved CNY1.78 billion (US$294 million) of investment.

Via three separate announcements the company said investment had been approved for a 100MW project, and two 50MW projects. The 100MW installation will be built in the Alxa League, Inner Mongolia, requiring CNY892.1 million (US$147.4 million) of investment, while one of the two 50MW projects will be built in Chahar Right Back Banner, which is also in Inner Mongolia, with around CNY446.1 million (US$73.7 million) of investment required. The other 50MW project will be built in Heibei province, with Hareon investing CNY440.6 million (US$72.8 million) to finance it.

Hareon Solar expects to complete the first 100MW by the end of this year. The initial 100MW is expected to require a total installation cost of CNY1 billion (US$0.17 billion). Expected completion date for the whole 200MW has not been disclosed. Similarly, the company has not disclosed details of any incentives it will receive for the projects.

The three projects are the latest in a series of large PV plant projects to be announced by the company recently. In November of last year, Hareon Solar signed a Letter of Intent to invest CNY10 billion (US$1.6 billion) for a 1GW solar farm in Inner Mongolia on a 1,620 hectare site.

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