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.
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