Goldman Sachs Group Inc (NYSE:GS) Expands Clean Energy Investments

Goldman Sachs Group Inc (NYSE:GS) is planning to invest $150 billion in clean energy initiatives in the next decade.

Clean Energy Push

Since 2012, Goldman Sachs Group has already invested more than $41 billion in clean energy projects around the world, which include solar and wind farms, power grid infrastructures, among others. It even funds clean energy companies in the form of equity investments.

This broad clean energy push has already led to the growth of 89 startups, creation of more than 129,000 jobs, generation of $34 billion in revenue last year and production of more than 30 gigawatts of clean energy.

Kyung-Ah Park, Goldman Sachs Group Managing Director and Head of Environmental Markets, believes that the clean energy industry is just beginning to gain a significant and much-awaited momentum.


Earlier this week, Goldman Sachs Group, together with Global Atlantic Financial Group, Ltd., FS Investment Corporation (NYSE:FSIC), and The Blackstone Group LP (NYSE:BX) GSO Capital Partners, has invested over $200 million in Altus Power America, Inc.

“This additional capital will support Altus’ significant project pipeline as we continue to invest in the rapidly expanding distributed generation commercial and industrial solar marketplace,” noted Gregg Felton, Altus Power America Managing Partner.

Importance of Clean Energy Investments

With the company’s extended presence worldwide, it can easily take advantage of new clean energy opportunities and emerging markets in the said industry. As a global leader, Goldman Sachs Group plays a meaningful role in the shift to clean energy.

As for the financial giant, its investments in clean energy efforts are significant elements in its growth strategy. However, more importantly, Goldman Sachs Group understands the importance of protecting the environment. Over the past four years, its investments have already offset more than 70 million metric tons of greenhouse gases (GHGs).

Omega Advisors, Inc. Ditch

In other news, Goldman Sachs Group is pulling its investments of roughly $300 million from Omega Advisors, Inc., as per a memo released to employees on Wednesday.

According to a person familiar with the matter, the funds will be liquidated by the end of the month.

On Thursday, Goldman Sachs Group has closed at $167.15; FS Investment at $9.36; and The Blackstone Group at $24.79.

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