Hanergy Thin Film Solar Venture Plans to Start First in Saipan
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Hanergy Thin Film Power Group Ltd., the Chinese solar company whose stock soared sixfold the past year, agreed to set up a venture with Imperial Pacific International Holdings Ltd. to build solar plants in the Pacific.
The companies signed a memorandum of understanding for the joint venture special-purpose company to construct thin-film solar plants first on Saipan, a U.S. territory in the Northern Marianas, then other Pacific islands, Hanergy said Monday.