Indian renewable power investment company Nereus Capital Management LLC has raised as much as $100m from Northern Lights Capital Group LLC and the U.S. Agency for International Development for its India clean energy fund.

The money will be used in the construction of as much as 400 MW of clean-energy capacity in India, according to a joint statement by Northern Lights and the U.S. agency. Potential investments include wind, hydropower and solar utilities, as well as large-scale energy efficiency projects.
India and US flags
India targets doubling renewable-energy capacity to about 60,000 MW by 2017 to help reduce blackouts and diversify generation away from fossil fuel-based power plants struggling with fuel shortages.

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