Solar modules in China. Featured Image: zhu difeng/Shutterstock.com
Chinese firm Hareon Solar Technology Co Ltd (SHA:600401) said Tuesday it has agreed to sell the 10-MW Golden Sun photovoltaic (PV) project for CNY 78.1 million (USD 12.6m/EUR 11.3m).
Through a unit, the company inked an equity transfer agreement with the buyer, a Wuxi-based optoelectronics technology company, on June 30. Under the terms of the deal, the latter will take over 100% in the project company, which owns and operates the 10-MW solar demonstration farm in Jiangsu province's city of Jiangyin.
Hareon Solar explained that the sale will help optimise its asset structure, as well as improve its cash flows and profits. The transaction has already been given the green light by the firm’s board of directors.
Hareon Solar makes solar equipment and also develops, builds and operates PV parks worldwide.