Hareon Solar to Spend $17.7 Million on U.K. Power Projects

Hareon Solar Technology Co. (600401), a Chinese maker of solar panels, plans to invest 10.6 million pounds ($17.7 million) to build solar farms in the U.K.

The company will pay 1.4 million pounds to acquire Brilliant Harvest 003 Ltd.’s rights to develop 10.23 megawatts of solar power projects, according to a statement to the Shanghai stock exchange yesterday. It will invest the remainder to build the projects.

Its board of directors also agreed to construct two solar farms each with a capacity of 50 megawatts in China’s Yunnan province and another 50-megawatt project in Hebei province, Hareon said in a separate statement yesterday.

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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