Goldman Sachs Group Inc., a global investment banking, securities and investment management firm based in New York, is planning to invest in offshore wind energy in Japan, Bloomberg informs.
The interest in tapping the potential of the country’s clean energy materialized when the company established Japan Renewable Energy Co. in August last year, which focused on solar energy and stimulated rapid growth of Japanese installed solar power. Now, Goldman Sachs wants to seize the big opportunity it sees in offshore wind, along with geothermal and biomass power. Even though wind power is more challenging than solar for developers, the company said that it holds an advantage in its people who have expertise in wind power.
Japan Renewable Energy intends to direct a 300 billion yen (USD 3.19 billion) investment into the country’s renewables sector in the upcoming five years.
[mappress]
Press release, June 13, 2013; Image: MHI