Goldman Sachs to invest US$40bn into clean energy

28 May 2012

Goldman Sachs appears to be vamping up its clean-tech investing focus. The Wall Street giant is reportedly planning to channel US$40bn into clean-energy projects over the next decade.

Goldman Sachs announced its clean-tech investing plans on Thursday at its annual shareholders meeting in New Jersey City.

A spokesman from the company told AFP that Goldman Sachs has set a target of US$40bn in financings and capital investments in the next 10 years to companies that “promote clean technology alternatives”.

“This target reaffirms our commitment to serving the needs of our clients in this space and playing a catalytic role in this important market,” said spokesman Michael Duvally.

Goldman Sach’s US$40bn investment and financing focus will apparently hone in on clean-tech areas such as solar and wind, biofuels, LED tech and energy storage, according to Reuters.

And just today, Ireland’s Energy Minister, Pat Rabbitte, TD, announced details of the country’s renewable energy strategy up to 2020. He spoke about how Ireland has the capacity to export as much renewable energy as it consumes.

Carmel Doyle was a long-time reporter with Silicon Republic