Goldman to plow $40 bn into green energy

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 clean technology 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 energy sources and improve the environment," Duvally said.