Renewable energy developer, Hareon Solar has signed a Letter of Intent to invest CNY10 billion (US$1.6 billion) for a 1GW solar farm in Inner Mongolia.
The deal was signed on 20 November, by the Mongolia Alashan Civil Administration and Hareon.
The proposed Alashan power plant is scheduled to be completed 2014 and is on a 4,000 acre site taking advantage of desert wasteland to meet local energy demands.
The project plans are to be completed within the next three months, while awaiting governmental approval and completion of a feasibility study.
Hareon will receive “investment incentives”, according to the document