Hareon Solar and Nereus Capital Commission 8.2 MW PV Project

Informative Abstract

Shanghai, May 8th, 2017: Hareon Solar Technology Company Limited (SSE: 600401) and Nereus Capital announced today that their joint venture company Medak Solar Projects Pvt. Ltd. has commissioned a 8.2 MW PV project in Telangana, India. This is the second distributed generation project Hareon has been granted of open access permit in India.


The PV plant is located in Medak district of Telangana, used high efficiency modules made by Hareon, and is expected to generate about 15.2 million units of electricity per year. Under a power purchase agreement (PPA) signed between Medak Solar Projects Pvt. Ltd. and two multinational pharmaceutical companies, electricity from the plant will be supplied to pharmaceutical manufacturing facilities through long-term open access.

Speaking on the occasion, Dr. Jie Zhang, CEO of Hareon International said “Hareon Solar have spent more than 6 years developing India market, established multiple investment channels to balance risk and reward. We have achieved expected good result of our strategy, and we are glad to announce the second successful Open Access distributed generation project. ”

Mr. Jona than Winer, Managing Director of Nereus said “The project was built using Hareon Solar’s high efficiency multi-crystalline silicon solar modules, and we are very happy working the professional team at Hareon Solar”.

About Hareon Solar Technology Co. Ltd.

Hareon Solar, headquartered in Jiangyin, Jiangsu Province, China, was established in2004. 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, visit: www.hareonsolar.com

About Nereus Capital

Nereus Capital finances alternative energy infrastructure in India. Nereus is differentiated by the combination of a private equity team that has invested together for over a decade and a sector-specific operational team that has developed over 1,000 megawatts of alternative energy power generation in India. Nereus’ India Solar Investment Trust seeks stable, low volatility, annual yields by providing construction financing for utility-scale photovoltaic solar power plants. For more information, please visit: www.nereuscap.com.