Chinese company Hareon Solar Technology’s subsidiary Hareon Solar Singapore has signed a joint venture (JV) agreement with Dalmia Group’s Keshav Power for the construction of a 160-MW PV cell production plant in India.
The solar cell production facility is expected to feature technology and process engineering from Hareon Solar, which will manufacture PV cells up to 1GW/yr. However, initially the capacity will be limited to 160 MW/yr.
Phase-1 of the project is expected to become operational by mid-2016.
With the signing of the JV Hareon Solar has become the first Chinese solar company to set up manufacturing facility in India.
Hareon Solar vice president Dr. Jie Zhang said: "Through this strategic investment in expansion of our manufacturing facilities outside China, we hope to serve new and growing solar markets which are not easily accessible to us at present.
"Hareon and Dalmia make a great partnership because of our common values and a shared vision to invest in clean renewable energy."
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By GlobalDataIndia is reportedly suffering energy deficit due to the increase in demand, and the Government of India has set a target to generate up to 100GW of solar power by 2022.
