Goldman Sachs to invest in Japan green energy projects

Funny to see people say things like "they are just in it for themselves", people should be thankful they are getting the money in the first place.

Its not the least bit funny. GS created much of the CBS and MBO's that destroyed the finance industry in 2008. Guess who was first to dump them when the going looked like getting tough (at least they were intelligent to see the crash coming and cut their losses before it got catastrophic). Lets hope this one doesn't bomb either, as in many cases it is usually the private investor, the old man/woman on the street, or even charities, who put their money into a dream plans or worthwhile causes that get burned. GS benevolently refer to them as "muppets" http://www.guardian.co.uk/business/2012/oct/22/goldman-sachs-muppets-greg-smith-clients.

Does that give you a clearer picture?

Funny to see people say things like "they are just in it for themselves", people should be thankful they are getting the money in the first place.

@W#akarimasen: no, solar power with solar panels on top of the entire roof, with solar power for entire house. No, gas, no electric power.

Fact #1 Goldman sachs are just cashing in on this, like so many others. Its not for the benefit of Japan, its for the benefit of Goldman Sachs. Fact #2 around the world, people are turning against the destrution of the environment through Wind Turbines in particular, and also dangerous Solar Power. Fact #3 The entire "Green energy" thing is based on the theories of Antrhopogenic Global Warming, and the theory that CO2 is bad for the planet. There has been NO global warming for the past 16 years, and counting, while at the same time CO2 levels have increased, thus debunking the entire Alarmist AGW theories. Mankind does not influence the planet's climate, its all nature. Time to go back to plentiful fossil fuels and stop demonising CO2, which is essential for plant life.

@sengetsu03 You have been reading too many right-wing blogs. Here are some hard facts for you:

Renewables - economic success: In Spain, at peak 25% of all energy comes from wind power. The Spanish economy has gained 3 euros for every one euro invested in incentives for wind farms (1). In Germany, new renewable energy sources are coming online so fast that they have recently increased their 2020 renewable energy target to 40% from 35% (2). In Iceland 100% of total power production comes from geothermal energy or hydroelectric power. It is a favourite location for large data centres because electricity is so cheap (3).

Non-renewables - economic failure: Japan generates less than 2% of its electricity from renewables. Despite the weakening yen boosting exports, the budget deficit is currently increasing, due to the huge cost of importing fossil fuels (4). The Fukushima nuclear disaster has left hundreds of square kilometres of Japan uninhabitable for decades and displaced more than 100,000 people. I'm not sure you can put a price on that, but if you could it would be enormous (5).

Citations: 1) http://www.cbc.ca/news/business/story/2013/02/04/business-spain-wind.html 2) http://www.businessspectator.com.au/news/2012/10/12/climate/germany-raises-renewables-target-40-eyes-cap-support 3) http://www.greendataisland.com/whyiceland.html 4) http://mainichi.jp/english/english/newsselect/news/20130308p2g00m0bu042000c.html 5) http://www.nature.com/news/japan-s-nuclear-crisis-fukushima-s-legacy-of-fear-1.10183

Goldmans probably won't be investing themselves, they'll most likely set up a fund, get investors sold on the idea of being green, and use the investors money to fund the projects, whilst taking a nice percentage as "commission" on the fund. I doubt they would expose their own money to risky ventures.

. @squid http://www.world-nuclear.org/info/Country-Profiles/Countries-G-N/Japan/

Also, section 10-3 of the link you posted is an excel sheet which identifies nuclear being 31% in 2010 (no figures for later years). Hope this helps.

Just a small correction of the facts in the article.

Until the tsunami-sparked disaster at Fukushima, more than 50 nuclear reactors produced around a third of Japan’s electricity, but public nervousness about nuclear power has left all but two units offline.

Nuclear power didn't generate a third, but rather a quarter (24.9%) of the electricity in Japan 2010, the year before the accident. Source: http://www.stat.go.jp/english/data/nenkan/1431-10.htm

Another money-losing venture by the fast-sinking Goldman Sachs. Almost no investment in alternative energy in any country has been an economic success. Huge amounts of money have been "invested" are huge, but the results of this investment has been less-than-huge. If Goldman are playing their cards properly, they'll build up some green energy momentum, and then cash out before before the momentum carries their projects over the edge.

The problem in Japan is less a problem of generation than it is a problem of misuse. Buildings use far more lights than necessary, insulation in most buildings is either non-existent, or inadequate. 75% of electricty is lost simply through transmission, changing the power grid to shorten the transmission distance, and relocating power plants would be significantly more cost-effective than the current alternative energy boondoggle, which is tailor-made to provide yet another industry to waste subsidies and provide kickbacks to bureaucrats and politicians.

Goldman-Sachs may be looking to exploit renewable energy, but Mistui, Mitsubishe, et al, are putting their money in shale gas.

This looks very good.

It's exactly what Japan needs.

I just worry what the commitment is.

Goldman Sachs is not doing this out of the kindness of their hearts.

Hydro power?

Hope they can hire people who lost their jobs because of the (wholly appropriate) loss of the npp in Japan.