China-listed solar PV company Hareon Solar announced on Friday that its wholly-owned subsidiary Hareon Solar Power Private Limited (Hareon India) will sign an agreement with Keshav Power Private Limited (KPL) which belongs to Dalmia Group for the establishment of a joint venture (JV) that will work together on the creation of a 160 MW solar PV project in India.
As part of the agreement, Hareon Solar will invest around $40 million in the project, the company revealed.
A second JV is also in the pipeline in India between Hareon Solar and Aurora Trust and Nereus Holding L.P. Hareons investment in this JV is thought to amount to $35 million, with Hareon Solar developing the solar plant and selling the completed installation to Aurora Trust via a share transfer.
At the beginning of July, Hareon announced its inaugural venture into Indias growing solar market a 72 MW JV project with ReNew Solar.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.