Goldman Sachs to raise USD 1bn for Japanese renewables - report

Goldman Sachs Group Inc (NYSE:GS) is allegedly planning a USD-1-billion (EUR 911m) bond facility, which will secure investments for the Japanese renewable energy market, Reuters said Monday.

More specifically, the Japan Renewable Project Bond Trust will target institutional investors with investment grade-rated securitised renewable energy bonds, people with knowledge of the matter were cited by the news agency as saying. At first, the scheme will include only photovoltaic (PV) projects, but will be later expanded to add other green energy destinations as well.

In 2012, Goldman unveiled a plan to attract USD 40 billion in aggregate investments for the renewable industry over the coming 10 years, according to the report. As for Japan, since the end of 2013, the global investment banking firm was involved in a dozen of solar parks, helping raise funds by selling roughly JPY 9 billion yen (USD 74m/EUR 67m) of revenue bonds. It has also invested in solar projects itself and set up Japan Renewable Energy back in 2012.

The Japanese green energy market has become an attractive destination for investors since the country launched its feed-in-tariff (FiT) programme for renewables in July 2012 after the devastating earthquake and the subsequent Fukushima accident and nuclear crisis.

(USD 1.0 = EUR 0.911)

(JPY 100 = USD 0.823/EUR 0.749)

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