It was a pivotal move for Hareon Solar in February, when it entered into an agreement so that United PV withdrew its $90 million claim against the company. Now it is looking to start moving back in the right direction with news of a 51 million yuan (US$7.65) investment in two new sub-units.
The two new units will be set up in Jilin and Anhui, one will be involved in the companys PV power generation business and another will be involved in Hareons construction and consultancy business. The company will invest 50 million yuan in one of the new units, and 1 million yuan in the other.
It has been a quiet few months for Hareon since February of this year when the company entered into a tripartite agreement with United PV and a Hong Kong investment firm, which saw United PV drop its $90 million claim against the company. That deal was pivotal for the survival of the Chinese firm, which had been expanding its reach into Indias solar market last year.