Chinese solar technology company Hareon Solar has formed a joint venture with Nereus Capital and Treasury Group to build photovoltaic projects of 32 megawatt capacity in India.
Hareon with the majority owner in the new venture named Nereus Capital Investments Singapore.
The joint venture will develop build and operate solar plants through wholly owned project companies and sell electricity to publicly-listed companies in India.
Companies interested in reducing their expenses on power can sign power purchase agreements with the solar projects of the company, renews reports.
The crystalline silicon solar modules of Hareon Solar will be utilized across the projects of the JV.
The projects to be developed by the JV are expected to begin commercial operation by the end of this year.
Ajith Kumar S