Reliance Industries Limited on Thursday announced that it is going to make a contribution of up to $50 Mn in Breakthrough Energy Ventures.
The investment constitutes 5.75% of the size of the fund contemplated at present, the Mukesh Ambani-led company said in a regulatory filing. "The said investment will be made in tranches over the next 8-10 years," it added.
BEV seeks to find solutions to the climate crisis by flexibly investing to develop breakthrough energy and agriculture technologies. The company will invest the funds raised from the investors to support innovation in clean energy solutions.
The results of these efforts would have significant relevance for India and are expected to benefit the entire mankind and also provide good returns to the investors, RIL said.