Hareon plans 1GW in Inner Mongolia

China's Hareon Solar plans to build 1GW of PV capacity in Inner Mongolia at a cost of 10bn yuan ($1.6bn).

The authorities in Inner Mongolia’s remote Alashan region have signed a letter of intent with Hareon to build the projects on a site spanning roughly 1,619 hectares, the PV module manufacturer said in a statement to the Shanghai Stock Exchange (SSE).

Hareon, based in eastern China’s Jiangsu province, expects to complete the first 100MW phase for about 1bn yuan at some point in 2014, pending government approval and the successful completion of initial feasibility studies.

The company, which relisted on the SSE last year, in August reported a first-half net loss of 254.8m yuan, from a 134.8m yuan deficit a year before. Days after that announcement, it revealed the sudden resignation of three of its board members, but did not disclose further details.

In July, it signed a memorandum of understanding to build a 300MW solar cell plant in Taiwan with Hong Kong-based polysilicon producer Mascotte Holdings.