Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Hareon to Build 479-Megawatt Solar Farms for Jiangxi Shunfeng

July 5 (Bloomberg) -- Hareon Solar Technology Co., a Chinese maker of solar panels, plans to build 479 megawatts of solar power plants for Jiangxi Shunfeng Photovoltaic Investment Co.

Hareon said it will also provide engineering and procurement services for the unit of Shunfeng Photovoltaic International Ltd. under a 4.19 billion yuan ($684 million) contract, according to a statement to the Shanghai stock exchange.

In addition to the construction contract, Jiangx Shunfeng will buy a 95 percent stake in the plants, and another 20 megawatts of Hareon’s solar projects, for an undisclosed sum, Hareon said in a separate statement.

Solar-component manufacturers are venturing into project development after their profits declined on slowing demand and a supply glut. Hareon and Jiangxi Shunfeng’s parent both reported losses last year.

The projects “will benefit the company to further expand photovoltaic power-plant development business, raise market share and improve overall profitability,” said Hareon.

To contact the reporter on this story: Feifei Shen in Beijing at fshen11@bloomberg.net

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

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.