December 24, 2024 08:12 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
India refrains from commenting on extradition request for ousted Bengladeshi PM Sheikh Hasina | I don't blame Allu Arjun, ready to withdraw case: Pushpa 2 stampede victim's husband | Indian New Wave Cinema Architect Shyam Benegal dies at age 90 | Cylinder blast at a temple in Karnataka's Hubbali injures nine people | Kuwait PM personally sees off Modi at airport as Indian premier concludes two-day trip | Three pro-Khalistani terrorists, who attacked a police outpost in Gurdaspur, killed in an encounter | Who is Sriram Krishnan, an Indian-American picked by Donald Trump as US AI policy advisor? | Mohali building collapse: Death toll rises to 2, many feared trapped for 17 hours | 4-year-old killed after speeding car driven by a teen hits him in Mumbai | PM Modi attends opening ceremony of Arabian Gulf Cup in Kuwait
Reliance

Reliance Industries to invest USD50 mn in BEV

| @indiablooms | Nov 13, 2020, at 10:39 pm

Mumbai/UNI: Reliance Industries has entered into a definitive agreement, for making capital contribution, up to USD 50 million, in Breakthrough Energy Ventures II, L.P. (BEV), a limited partnership, newly incorporated under the Delaware State Laws, United States of America.

The capital contribution commitment of USD 50 million constitutes 5.75 pc of the size of the fund contemplated at present. The said investment will be made in tranches over the next 8-10 years.

BEV seeks to find solutions to the climate crisis by flexibly investing to develop breakthrough energy and agriculture technologies. BEV 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.

The transaction is subject to approval from Reserve Bank of India. The investment does not fall within related party transactions and none of RIL's promoter / promoter group / group companies have any interest in the transaction. 

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.