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Goldman Sachs Will Enter the PV Industry

Oct 22, 2019

There are more and more cross-borders of photovoltaics. Following the release of PV information "International oil giant Total into the domestic PV market" yesterday, another international giant entered the PV industry!

The Goldman Sachs Group's renewable energy company has said it has received about $1.9 billion from equity capital investment, and it is estimated that about $4 billion will be spent on renewable energy projects.

The private company is part of Goldman Sachs Asset Management (GSAM), which owns and manages renewable energy assets primarily in the United States. According to GSAM, the investor base of Goldman Sachs’ renewable energy includes institutions, family offices and high net worth individuals.

“Given stable cash flow conditions associated with other financial asset classes, we believe Goldman Sachs renewable energy and its early focus on distributed generation solar energy are an attractive option for our portfolio,” UC Chief Investment Officer Jagdeep Singh Bachher said.

According to GSAM, the company is one of the largest owners and operators of distributed power generation solar assets in the United States. In March of this year, Goldman Sachs' renewable energy subsidiary purchased a $86.9 million commercial solar project lease from US solar company SunPower.

Michelle Davis, senior solar analyst at energy and consulting firm - Wood Mackenzie Power&Renewables, commented, "The SunPower deal shows that institutional investors are increasingly interested in commercial solar assets."

Jon Yoder, managing director and head of GSAM Renewable Energy Group, said this week that more and more companies, governments and educational institutions are working on renewable energy. "We have successfully deployed more than $1.4 billion in funds, mainly for American distributed generation solar assets."