Hareon Solar’s Board Agrees to Build $294 Million of Solar Farms

Hareon Solar Technology Co. (600401), a Chinese maker of solar panels, said its board agreed to spend 1.78 billion yuan ($294 million) developing 200 megawatts of solar power plants in the north.

The company plans to build two projects with a combined capacity of 150 megawatts in Inner Mongolia, it said in a filing to the Shanghai stock exchange yesterday. A 50-megawatt solar farm will be developed in Hebei province.

Financing will come from the company’s own funding and bank loans, Hareon said.

To contact Bloomberg News staff for this story: Feifei Shen in Beijing at fshen11@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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