Hareon Solar to Make First India Investment Amid Renewables Boom

06 July 2015 by

BB - Hareon Solar Technology Co., a Chinese solar-panel maker, will invest in India for the first time as the South Asian nation boosts its clean-energy capacity almost fivefold. The manufacturer will team with ReNew Power Ventures Pvt., an independent power producer backed by Goldman Sachs Group Inc., to develop a 72-megawatt project in Andhra Pradesh, the companies said Monday in an e-mailed statement.

India is adding renewable-energy capacity to cut blackouts and curb reliance on coal-power plants that make it one of the world’s biggest polluters. State financial support has already lured foreign investors including China’s Trina Solar Ltd., U.S.-based SunEdison Inc. and Japan’s SoftBank Group Corp.


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