Hareon Solar to Spend $17.7 Million on U.K. Power Projects

Feb 14, 2014 3:27 am ET

Feb. 14 (Bloomberg) -- Hareon Solar Technology Co., a Chinese maker of solar panels, plans to invest 10.6 million pounds ($17.7 million) to build solar farms in the U.K.

The company will pay 1.4 million pounds to acquire Brilliant Harvest 003 Ltd.’s rights to develop 10.23 megawatts of solar power projects, according to a statement to the Shanghai stock exchange yesterday. It will invest the remainder to build the projects.

Its board of directors also agreed to construct two solar farms each with a capacity of 50 megawatts in China’s Yunnan province and another 50-megawatt project in Hebei province, Hareon said in a separate statement yesterday.

--Feifei Shen. Editors: Peter Langan, Jason Rogers