According to recent reports, Goldman Sachs Group Inc. will invest more than $40 billion over the next decade into renewable energy projects.
The funds will be utilized for investments and financing packages for solar, wind, hydro, bio fuels, biomass conversion, energy efficiency, energy storage, green transportation, efficient materials, LED lighting and transmission.
Goldman executives believe that demand for alternative energy sources will grow with global energy demand as the larger manufacturing countries, including China and Brazil, set more aggressive targets for reducing emissions. The bank plans to finance deals with clients’ money and, to a lesser extent, its own funds.
Goldman, which already invests in clean technology, helped finance $4.8 billion in clean technology companies globally in 2011 alone. In addition, the bank also co-invested more than $500 million in that area.
The size and scope of the projected investment indicates that the bank sees a clear benefit to investing in these technologies.
RubinBrown has a dedicated group focused on business issues related to renewable energy. The Renewable Energy Segment of RubinBrown’s Life Sciences Industry Group provides assurance, tax, and business advisory service for businesses that provide customer financing, construct equipment, or produce energy from renewable resources, such as solar, wind, geothermal heat, and tidal.
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