Goldman Sachs to buy Zilkha Renewable Energy

03/22/05 - newratings.com

NEW YORK, March 22 (newratings.com) – Banking major Goldman Sachs (GS) Monday announced its decision to purchase Zilkha Renewable Energy, a leading operator of several wind energy projects. The terms of the purchase were, however, not disclosed.

Goldman Sachs’ Chairman and CEO, Henry Paulson Jr, said in a statement that wind and other forms of renewable energy were expected to play an important role in the near future in the development of the high-growth industry. Golman Sachs currently has major holdings in energy development, energy finance, power marketing and commodities trading. The company also owns a number of power plants, besides having interests in several wind farms. According to The New York Times, the acquisition would give Goldman Sachs control of the 4,000 megawatt wind-energy projects, currently under development in 12 states.