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A year after it announced its intention to enter the Indian market, the Chinese solar company, Hareon, has made the move.
Shanghai-based Hareon Solar Technology Company has tied up with ReNew Power, one of the larger renewable energy companies in India. The joint venture will set up a 72 MW solar power project in Andhra Pradesh.
Hareon Solar will supply 2,34,161 crystalline silicon modules to the project which is coming up in the Kurnool district. The power generated will be sold under a 25-year power purchase agreement to the electricity distribution company Southern Power Distributor.
In August last year, Hareon Solar had said it would set up 150 MW of solar power plants in India, which it would achieve in “partnership” with the US-based, India-focused private equity, Nereus Capital. “India is a market of high potential,” Dr Jie Zhang, Vice-President, Global Business Development, Hareon Solar, had said in a press release last year.
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