Hareon Solar Technology Co. Ltd. (600401.CN) said it plans to acquire the entire stake in British-based Brilliant Harvest 003 Ltd. and a solar power project via its wholly-owned subsidiary Hareon Solar GmbH in Germany for 10.59 million pounds (US$17.64 million), the China Securities Journal reported Thursday. Brilliant Harvest will be responsible for the construction of the power station, which will take three months to complete. Of the 10.59 million pounds, 9.19 million pounds will be used to pay for construction fees while 1.4 million pounds will be paid for the development rights, based on the unit cost of 0.14 pound per watt for the entire 10.23MW solar power generation capacity. Upon completion of the project, the solar power station will be acquired by Foresight Solar Fund Ltd., which has other solar power stations listed on the London Stock Exchange, the report said.
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