Reliance Industries Limited announced Thursday that it will make a contribution of up to $ 50 million into Breakthrough Energy Ventures.
The investment constitutes 5.75% of the size of the fund currently contemplated, the company led by Mukesh Ambani said in a regulatory document. “This investment will be made in tranches over the next 8 to 10 years,” he added.
BEV seeks to find solutions to the climate crisis by investing flexibly to develop innovative energy and agriculture technologies. The company will invest funds raised from investors to support innovation in clean energy solutions.
The results of these efforts would be of significant importance to India and are expected to benefit all of humanity and also provide good returns to investors.
The transaction is subject to the approval of the Reserve Bank of India. The investment is not part of transactions with related parties and none of RIL’s promoters, promoter groups or group companies has an interest in the transaction, he added.
Breakthrough Energy Ventures is a global group of 28 high-net-worth investors from ten countries committed to financing clean energy ventures emerging from Mission Innovation initiatives, which was also announced at the United Nations Climate Change Conference. of 2015.
Established in 2015 by billionaire philanthropist Bill Gates and a coalition of private investors, Breakthrough Energy “supports innovations that will lead the world to net zero emissions.”
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