AMED will take a 60% stake in Hareon Solar SA, while Hareon will hold the remaining interest.

The venture will provide a base from which Hareon can explore opportunities throughout South Africa and other African nations, the Jiangsu-based PV cell and module maker said in a statement to the Shanghai Stock Exchange.

Hareon also received approval from the China Securities Regulatory Commission (CSRC) this week to raise as much as 3.8bn