The alliance follows Hareon’s recent announcement that it will set up a subsidiary in India to invest in photovoltaic (PV) projects across the country.
Hareon said there is a 9.3% average energy deficit in India that restrains industry and stops economic growth with routine blackouts.
Currently, about 300 million people in India do not have access to electricity.
India installed 1.1GW of solar panels in 2013 and total installations, including utility, commercial and industrial sectors, are expected to cross 8GW in 2016.
Hareon Solar Technology VP of global business development Jie Zhang said: "India is a compelling and growing market for solar PV projects.
"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."
Nereus managing director Jonathan Winer said: "I think we’ve reached an interesting inflection point for solar power in India.
"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."
Nereus Capital’s fund, the India Energy Fund, offers financing to firms engaged in renewable power generation and clean technologies across the country.
Hareon has over 1.5 GW of annual cell capacity and more than 1GW of annual module capacity.
The company has built and grid-connected over 500MW of PV power plants globally as of 31 December 2013.
Image: Hareon and Nereus Capital will develop more than 150MW of solar power projects in India. Photo: Courtesy of maya picture/FreeDigitalPhotos.net.
