• 6 minutes Corporations Are Buying More Renewables Than Ever
  • 17 minutes WTI @ 67.50, charts show $62.50 next
  • 23 minutes Starvation, horror in Venezuela
  • 5 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 1 day Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 2 days The Discount Airline Model Is Coming for Europe’s Railways
  • 1 day Renewable Energy Could "Effectively Be Free" by 2030
  • 1 day Saudi Fund Wants to Take Tesla Private?
  • 2 days Venezuela set to raise gasoline prices to international levels.
  • 4 hours China goes against US natural gas
  • 2 days Mike Shellman's musings on "Cartoon of the Week"
  • 5 hours Hey Oil Bulls - How Long Till Increasing Oil Prices and Strengthening Dollar Start Killing Demand in Developing Countries?
  • 2 days Pakistan: "Heart" Of Terrorism and Global Threat
  • 2 days Are Trump's steel tariffs working? Seems they are!
  • 3 days Scottish Battery ‘Breakthrough’ Could Charge Electric Cars In Seconds
  • 22 hours Why hydrogen economics does not work

Goldman Sachs Promises to Invest $40 Billion in Renewable Energy

Goldman Sachs (GS) have just announced that they plan to invest $40 billion in renewable energy projects over the next ten years. According to Reuters, renewable energy is “an area the investment bank called one of the biggest profit opportunities since its economists got excited about emerging markets in 2001.”

They invested more than $4.8 billion in clean technology companies around the globe in 2011, so an average of $4 billion a year is actually a decrease, but GS see the potential for great profits as growing economies such as China, Brazil, India, and Europe are looking to implement strong renewable energy policies.

Reuters said that “the bank’s new $40 billion target applies to investments and financings for solar, wind, hydro, biofuels, biomass conversion, energy efficiency, energy storage, green transportation, efficient materials, LED lighting and transmission.”

Stuart Burnstein, the head of Goldman’s clean technology and renewables investment banking group, described the investment opportunity presented by renewable energies as being similar to that of the technology industry back in the 1990’s.

Kyung-Ah Park, the head of the environmental markets at Goldman Sachs, has admitted that the current renewable energy market is not as strong as it was because the global financial crisis has forced government to reduce subsidies for alternative energy programs and fracking technology has led to an abundance of cheap natural gas which has undermined alternative energy sources. “Obviously we recognize this is not the easiest of times in the clean energy market but nevertheless the underlying thesis as to why cleaner and more sustainable forms of energy need to scale up still holds true.”

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment
  • Anil Chopra on May 30 2012 said:
    It is very good. The former American president Ronald Reagan gave a severe blow to the devepment to harness green energy. The world wanted
    the green energy.The governments in Europe have ceased to give abundance susidies. China is doing very well in the development of green energy.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News