27 Jul '15, 10am

Hareon to invest US$40 million in 160MW cell production project in India

NCI is to invest more than US$35 million in Indian PV plants through its own project company in India. Image: Hareon. Chinese PV manufacturer Hareon Solar plans to set up a 160MW cell production project in India through its wholly owned-subsidiary Hareon Solar Power along with Keshav Power, an arm of business conglomerate Dalmia. Hareon Solar will invest up to US$40 million into the project, it was announced at a board meeting last week. Meanwhile, Hareon Singapore also signed a shareholder’s agreement with Aurora Trust and Nereus Holdings, which controls NCI. Under the agreement, NCI is to invest up to US$35 million in Indian PV plants through its own project company in India. Aurora Trust will buy NCI shares from Hareon Singapore in order to purchase these projects once installed. In July, Hareon Solar announced it would develop and invest in a 72MW project in India thro...

Full article: http://www.pv-tech.org/news/hareon_to_invest_40_million_i...

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