Hareon Solar, Kong Sun Holdings team up for 1 GW of solar projects
Sep 4, 2014 - China's Hareon Solar Technology (SHA:600401) said today it has partnered with a unit of Hong Kong-based investor Kong Sun Holdings Ltd (HKG:0295) to develop up to 1 GW of solar capacity within three years.
The cooperation agreement envisages for 2014 that Hareon Solar will sell 100-MW of ground-mounted solar projects to Kong Sun Holdings and provide the engineering, procurement and construction (EPC) services for their completion. They will then sell them to an independent third party.
Phase two and three of the agreement foresee developing 300-400 MW of power plants or distributed generation (DG) capacity by the end of 2015 and a further 400-500 MW through 2016.
Hareon, which makes solar equipment and also develops, builds and operates solar projects worldwide, announced in August a number of expansion initiatives, including the deployment some 700 MW in China and approximately 3.1 GW overseas.