August 25, 2014 - Hareon Solar Technology Co., Ltd. announced today that it will partner with Nereus Capital to develop over 150MW of solar power projects in India over the next two years. This partnership follows Hareon's announcement earlier this month that it will establish a subsidiary in India to invest in photovoltaic projects in the country.
"India is a compelling and growing market for solar PV projects," said Dr. Jie Zhang, VP of Global Business Development of Hareon. "By partnering with a leading Indian private equity firm, we are able to apply leading technology and end-to-end financing to efficiently develop and construct solar projects."
"I think we've reached an interesting inflection point for solar power in India," said Jonathan Winer, Managing Director at Nereus. "As a result of falling project costs and escalating electricity prices, it can now be cost-effective for certain industrial and commercial end-users of power in India to purchase solar power directly."