Alternative asset managing firm Nereus Capital Management has raised around $100m for its India clean energy fund.

The funding has been facilitated by Northern Lights Capital Group and the US Agency for International Development (USAID).

Nereus Capital noted that the funds will be used in the construction of clean energy projects in India, with a total installed capacity of around 400MW. The clean energy projects include wind, hydropower and solar utilities, as well as large-scale energy efficiency projects.

Currently, India is aiming to increase its renewable-energy capacity to about 60,000MW by 2017, reducing dependency on fossil fuel-based power plants.

Earlier in 2012, Nereus has received $20m from the International Finance Corporation, as part of a plan to raise $250m.