USAID invests US$100 million in Indian clean energy fund

Investment to generate up to 400 MW of sustainable energy.

The U.S. Agency for International Development said it will partner with U.S.-based institutional investor Northern Lights Capital Group to facilitate a US$100 million investment in India's clean energy sector via Nereus Capital.

This investment, through the agency's Development Credit Authority, will also help advance India's growing clean energy industry. The partnership is the first time in the agency's history that it has partnered with a private investment fund to facilitate targeted investment.

USAID will provide a 40% credit guarantee for a US$100 million limited partner commitment to Nereus Capital's India Alternative Energy Fund managed by Northern Lights Capital Group, an institutional investor.

This investment could eventually create as much as 300 MW to 400 MW of sustainable energy capacity, which is equivalent to lighting the homes of tens of thousands of Indian families. It is also USAID’s first investment in a private investment fund, and will help to facilitate access for U.S. entrepreneurs to this important emerging market.