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New York giant bank to invest $3b in Japan renewable investments

Goldman eyes $3b in Japan renewable investments SMH, 14 June 13, Goldman Sachs, the New York-based bank planning as much as 300 billion yen ($3 billion) in renewable energy investments in Japan, is eyeing offshore wind power after building up holdings in more established clean energy sources such as solar.

Japan Renewable Energy Co. was set up by Goldman in August after Japan began offering above-market rates to producers of clean energy. The incentives, or feed-in tariffs, have spurred investments in renewables, setting Japan on course this year to become one of the world’s largest solar markets by annual installations.

The company sees offshore wind as promising, Shigeru Yasu, a representative director at Japan Renewable Energy, said in an interview in Tokyo yesterday. Geothermal and biomass power also hold potential, he said……..

Five-year investment

Japan Renewable Energy plans in the next five years to invest as much as 50 billion yen directly into clean energy projects with capital provided by GS Infrastructure Partners. It will take as much as 250 billion yen of loans for project financing, Takahisa Nakagawa, also a representative director at Japan Renewable Energy, said in the interview. The investments and loans will amount to about 1,000 megawatts of clean energy, he said……..

Japan is set to overtake Germany as the world’s largest solar market, Bloomberg New Energy Finance said last month……. http://www.smh.com.au/business/carbon-economy/goldman-eyes-3b-in-japan-renewable-investments-20130614-2o7uo.html#ixzz2WFD29I8D

June 14, 2013 - Posted by Christina Macpherson | Japan, renewable