Tuesday, August 26, 2014: China based Hareon Solar Technology has signed a strategic cooperative framework agreement with a US based investor. They will jointly build around 150 During the first phase, the Chinese company will join hands with Mumbai based renewable investor Nereus Capital to invest roughly $35 million for around 32vMW PV capacity in India. Last week, Hareon said that it secured $1.6 billion credit line with Bank of Communications’ Suzhou branch, as part of a long-term strategic partnership. Hareon, with the help from these loans, will develop ground-mount PV arrays and hydropower projects. Moreover, They also said that one of their subsidiaries, Altusvia Energy (Taicang), has also enetered a tentative agreement with Bank of China for loans. The credit line will be valid through 2015 and will help the company to invest in PV projects.
In recent times Hareon has announced a number of projects. In August beginning it signed a framework agreement with Switzerland’s ILB Helios to build 6.27vGW solar capacity in Europe, Africa, the Middle east and North America till 2017. In July another agreement was signed with China’s Hebei province’s authorities to build 600MW of distributed generation solar for 300MW of rooftop PV. Prior to that in June they unveiled plans to establish a venture in Johannesburg too with mining and construction contractor AMED Energy. It will sell its solar panels under this agreement and will also provide EPC services and invest in PV projects across Africa. MW PV in India, along with securing credit lines from two Chinese banks. It has also agreed to collaborate with the Indian unit of Seattle based Northern Lights Capital to invest $214 million in the development and construction of solar projects in next two years.
