The London and Hong Kong offices of Debevoise & Plimpton LLP have advised Nereus Capital on its joint venture (JV) with Hareon Solar and Treasury Group, creating Nereus Capital Investments Singapore Pte Ltd.
The JV will invest in solar projects in India. It will develop, build and operate approximately 32 MW of PV projects through wholly owned project companies in India. The projects are expected to begin commercial operations by the end of 2015. Upon completion, the projects will generate approximately 52 million units of electricity per year.
Nereus Capital finances alternative energy infrastructure in India. Nereus’ India Solar Investment Trust seeks stable, low volatility, annual yields by providing construction financing for utility-scale photovoltaic solar power plants.
Hareon Solar is one of China’s largest solar energy companies, while Treasury Group is a multi-boutique asset management group.
The Debevoise team advising Nereus was led by London partner Geoffrey P. Burgess, assisted by associates Parveet Singh Gandoak in Hong Kong and Shashwat Patel in London. London partner Matthew D. Saronson provided tax advice, assisted by Mai T. Shapiro in Hong Kong.
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