Hareon Solar & ReNew Power Commission 58 MW Project in Telangana, India

Shanghai, May 31, 2017 : Hareon Solar Technology Company Limited (SSE: 600401) one of China’s largest solar energy companies and ReNew Power Ventures Pvt. Ltd. (“ReNew Power”), India’s leading renewable energy Independent Power Producer today announced the successful commissioning of their 58MW solar project in Telangana, India.

The project, the first large scale PV plant using single-axis tracking system for both partners, is expected to generate 101.9 million units of energy per year (11% increase compare to fixed tilt), to power close to 9,436 homes, and will curb over 50,950 tons of CO2 every year. It is connected to Mandamarri substation. The 58 MW project was built using Hareon Solar’s high efficiency multi-crystalline silicon solar modules and the power generated from this project will be sold under a 25-year power purchase agreement (PPA) to the Northern Power Distribution Company of Telangana.

Speaking on the occasion, Parag Sharma, Chief Operating Officer, ReNew Power said, We are pleased to strengthen our leadership position in the state of Telangana and contribute to its mission to tap intoits solar potential. The commissioning of this project will help us further our already successful relationship with Hareon Solar, one of our valued partners since 2015.”

Dr. Jie Zhang, CEO of Hareon International said “We are very pleased to announce continued success with our long term partner Renew Power in this very dynamic solar market. As one of the leading GW manufacturers and GW global developers, Hareon Solar has invested in not only new wafer, cell, and module technologies, but also technologies to improve powerplant yield. ”

Dr. Rubin Sidhu, Director of Hareon SolarIndia added “Hareon Solar and Renew Power teams did a great job commissioing this project ahead of schedule. This project adds to Hareon Solar’s project portfolio in India which is now close to 300 MW, and demonstrates Hareon Solar’s continued commitment to support India’s solar energy targets.”  

ReNew Power and Hareon Solar have over the last few years demonstrated a successful track record of working together, having developed, constructed and financed solar projects of approximately 300 MW generation capacity in India.

About Hareon Solar Technology Co. Ltd.

Hareon Solar, headquartered in Jiangyin, Jiangsu Province, China, was established in 2004. The company is listed on the Shanghai Stock Exchange with the ticker symbol: 600401 and has a market capitalization of about USD 1.3 Billion. Hareon Solar is one of China's largest crystalline silicon solar cell and module manufacturers. The company has about 2,000 MW per year of solar cell manufacturing capacity and about 2,000 MW per year of solar module manufacturing capacity across five manufacturing bases in China. In addition, Hareon Solar has operations and subsidiaries in Australia, Germany, India,Japan, South Africa, and USA.

For more information, please visit: www.hareonsolar.com

Follow Hareon Solar on Wechat @ hareonsolar

About ReNew Power Ventures Pvt. Ltd.

ReNew Power Ventures Pvt. Ltd, an Independent Power Producer (IPP) company, is committed to leading change in the country’s current energy portfolio by delivering cleaner and smarter energy choices and thereby reducing India’s carbon footprint.

ReNew Power’s mission is to play a pivotal role in meeting India’s growing energy needs in an efficient, sustainable and socially responsible manner. The company creates value through reliable and efficient generation of non-conventional power through innovation in solar and wind power solutions. ReNew Power has over 3,000 MW of commissioned and under construction clean energy capacity across the states of Gujarat, Haryana, Himachal Pradesh, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana, Tamil Nadu, Jharkhand, Punjab, Delhi NCR and Andhra Pradesh.

For more information please visit: www.renewpower.in.

Follow ReNew Power on Twitter @ReNew_Power