Jiangyin, China, -based solar technology company Hareon Solar and ReNew Power, India, have formed a joint venture to develop a 72-megawatt solar power project at Kurnool, Andhra Pradesh.
The project will deploy 234,161 crystalline silicon modules manufactured by Hareon. At peak output, the solar farm is expected to meet the average annual power requirements of more than 30,000 households and prevent emission of 115,895 tonnes of carbon dioxide each year.
According to a statement, the utility Southern Power Distributor has signed a 25-year power purchase agreement with the joint venture for the entire output of the power plant.
Hareon had announced last August that it planned to set up solar power plants of 150 megawatts capacity in India. The company said it was to do so in “partnership” with the US-based, India-focused private equity, Nereus Capital.
At present, ReNew Power has total installed capacity of 1 gigawatt of projects either commissioned or under-construction across India.
In turn, Hareon Solar, established in 2004, has invested in and commissioned more than 800 megawatts of photovoltaic projects worldwide.
The company has the capacity to manufacture solar cells for 1,600 megawatts per year and solar module manufacturing capacity of about 1,200 megawatts per year across five factories in China.
Also, Hareon Solar has a global footprint covering Australia, Germany, India, Japan, South Africa, and USA.
Ajith Kumar S