IFC Commits US$20 Million to Renewable Fund Domiciled in Mauritius (Asia)

Source: The Hindu Business Line  |  Author: K.R. Srivats

International Finance Corporation (IFC), the private sector development arm of the World Bank, has agreed to commit US$20 million to Nereus India Alternative Energy Fund, a private equity fund managed by India-based alternative asset manager Nereus Capital. The fund, which is targeting US$250 million in total commitments, plans to make investments in the range of US$15 million to US$35 million. The fund will reportedly focus on all sub-sectors of alternative energy including wind, solar, hydro and bio-mass.