Hanergy to Build 50-Megawatt Solar Power Plant in China

May 13 (Bloomberg) -- Hanergy Solar Group Ltd., a Hong Kong-based renewable-energy company, is planning a 50-megawatt solar project in eastern China that will cost 627.6 million yuan ($100.8 million).

The project in Xuchang City in Henan province is expected to begin construction next month and will be completed by March 2016, Hanergy said today in a statement.

Hanergy will invest 125.5 million yuan in the project and expects the remaining 502 million yuan to come from bank financing, according to the statement.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editors responsible for this story: Reed Landberg at landberg@bloomberg.net Will Wade, Carlos Caminada