Hareon is investing in a new PV research institute


After narrowly escaping a potentially fatal lawsuit earlier in the year, the Chinese company has been making some significant investment moves in its solar PV business. The most recent news is for a PV research institute in Wuxi City, China.

The institute will be set up by Hareon’s electric power unit, and will have a substantial initial investment of 10 million yuan (US1.5 million) pumped into it. It will be engaged in all of the company’s PV interests, including the design and development of PV power plants, PV modules, inverters and transformers, among other things.

Earlier in the month the Chinese firm announced that it would invest 51 million yuan (US$7.65 million) in its PV operations, by setting up two sub-units. This investment appears to be separate from those reports, as they were for two units in Jilin and Anhui respectively. Hareon now looks to be making the most of its situation, after escaping a US$90 lawsuit earlier in the year, which could have signaled the end for the company.