Goldman Sachs’ renewable company scores US$4 billion for clean energy projects

Facebook
Twitter
LinkedIn
Reddit
Email

Goldman Sachs Asset Management has reached the final close on capital commitments to Goldman Sachs Renewable Power, a private company that invests in renewable energy assets. In total, Goldman Sachs Renewable Power received approximately US$1.9 billion of equity capital commitments and expects to have approximately US$4 billion of total capital to invest, including debt capacity. 

Jon Yoder, managing director and head of the GSAM Renewable Power Group, said: “A broad and growing range of corporations as well as governmental and educational institutions are engaging in the effort to address climate change by committing to obtain the energy they need from renewable sources. We believe Goldman Sachs can play an important role in the transition to renewable energy by partnering with clients to own and manage renewable energy projects that deliver clean energy. 

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“We have already been successful in deploying over US$1.4 billion of capital, primarily into distributed generation solar assets here in the United States. From this foundation, we see an exciting and growing opportunity set, and we are grateful for the support of our clients and their shared vision in this important effort.”

Goldman Sachs Renewable Power looks to deliver risk-adjusted returns by selling the power produced by clean-energy assets under long-term agreements to a diversified set of institutions. Most of these renewable-energy projects are located in the United States. 

Goldman Sachs has been very active in the PV market over the past year, with the company acquiring three PV portfolios with a combined generation capacity worth over 500MW of utility-scale and C&I assets in the US back in May. Global consulting and engineering firm Enertis will support Goldman Sachs in this acquisition. 

In November, ENGIE North America’s Distributed Solar team closed on an investment from Goldman Sachs’ Alternative Energy Investing Group into a partnership that is managed by ENGIE. That partnership will be able to deploy up to 75MW of distributed solar and distributed solar plus battery systems across multiple states in the US, including California, Nevada, Minnesota, Illinois, Texas, New York, New Jersey, and Massachusetts.

21 May 2024
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 21-22 May 2024, will be our third PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2025 and beyond.
8 October 2024
San Francisco Bay Area, USA
PV Tech has been running an annual PV CellTech Conference since 2016. PV CellTech USA, on 8-9 October 2024 is our second PV CellTech conference dedicated to the U.S. manufacturing sector. The event in 2023 was a sell out success and 2024 will once again gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing in the U.S. out to 2030 and beyond.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
March 19, 2024
Texas, USA
Solar Media Events
March 26, 2024
Lisbon, Portugal
Solar Media Events
April 10, 2024
Dallas, Texas USA