Goldman to plow $40 bn into green energy

May 25, 2012
People walk past Goldman Sachs headquarters in March 2012 in New York City. Goldman Sachs plans to invest $40 billion into projects linked to renewable energy over the next decade, a company spokesman said Thursda

Wall Street giant Goldman Sachs plans to invest $40 billion into projects linked to renewable energy over the next decade, a company spokesman said Thursday.

"We are extending our long-standing commitment to support renewable energy by setting a target of $40 billion in financings and capital investments over the next decade to companies that promote alternatives," spokesman Michael Duvally told AFP.

"This target reaffirms our commitment to serving the needs of our clients in this space and playing a catalytic role in this important market," he said.

Goldman, which has a team dedicated to investment in clean technologies and renewable energy, financed $4.8 billion and co-invested more than $500 million in the sector last year.

"The clean tech industry is expected to be a rapidly growing market and one that we believe is at a momentous point in terms of the expansion of technologies that will help diversify and improve the environment," Duvally said.

Explore further: Shedding light on solar power

add to favorites email to friend print save as pdf

Related Stories

Taiwan plans massive growth in solar energy

Dec 04, 2009

Taiwan plans to boost its use of solar panels by a factor of 200 over the next decade and a half in an effort to increase clean energy, a ranking official said Friday.

Clean energy firms eye Hong Kong IPOs: report

Mar 10, 2011

Two Chinese clean energy firms are planning share sales in Hong Kong to raise a total of $1.1 billion as the country ramps up its use of renewable energy, a report has said.

ADB sells $339 million 'clean energy' bonds

May 16, 2012

The Asian Development Bank said Wednesday it had sold $339 million worth of bonds to help fund investment in more environmentally-friendly power projects in the region.

Facebook, Greenpeace in truce over data centers

Dec 15, 2011

(AP) -- Facebook and Greenpeace have called a truce over a clean energy feud that had the environmental group using the social network's own platform to campaign against it.

Canada awards $1.1M for energy projects

Nov 21, 2007

The Canadian government is investing in solar energy, awarding $1.1 million for projects promoting photovoltaic and solar thermal power technologies.

Recommended for you

Audi to develop Tesla Model S all-electric rival

5 hours ago

The Tesla Model S has a rival. Audi is to develop all-electric family car. This is to be a family car that will offer an all-electric range of 280 miles (450 kilometers), according to Auto Express, which ...

A green data center with an autonomous power supply

10 hours ago

A new data center in the United States is generating electricity for its servers entirely from renewable sources, converting biogas from a sewage treatment plant into electricity and water. Siemens implemented ...

Can we create an energy efficient Internet?

11 hours ago

With the number of Internet connected devices rapidly increasing, researchers from Melbourne are starting a new research program to reduce energy consumption of such devices.

Shedding light on solar power

Nov 27, 2014

Everyone wants to save energy, but not everyone knows where to start. Grid Resources, a startup based out of the Centre for Urban Energy's iCUE incubator, is developing a new website that seeks to help homeowners ...

Energy transition project moves into its second phase

Nov 27, 2014

Siemens is studying new concepts for optimizing the cost-effectiveness and technical performance of energy systems with distributed and fluctuating electricity production. The associated IRENE research project ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.