Our clean energy focus supports our clients’ efforts to reduce emissions and environmental impact by enabling renewable energy generation, energy efficiency and grid services.

Case Study: ReNew Power India

Funds managed by Goldman Sachs have been long-time supporters of Renew Power India, beginning from the fund’s early stage investments in ReNew Power to Investment Banking Division working on three green bonds totaling to ~$1.3 billion. On the path to helping ReNew Power become India’s largest independent renewable energy company, ReNew’s business growth has also contributed 4,000+ new jobs to the Indian economy across more than 95 villages. ReNew’s growth is playing a key role in India’s transition to a low-carbon economy.

Our sustainable transport focus enables clients in the sector to reduce their environmental impact by shifting the mode of transit or increasing per-trip efficiency through electric vehicles, connected services, autonomous driving and public transportation development.

Case Study: Northvolt

Northvolt, a Sweden-based European supplier of sustainable, high-quality battery cells and systems, targeting the automotive and energy storage sectors. In 2019, Goldman Sachs, alongside Volkswagen Group and BMW, led a $1 billion equity capital raise for Northvolt. This capital enables the construction of an initial 16GWh lithium-ion battery cell manufacturing capacity at Northvolt’s gigafactory in Sweden, Northvolt Ett, the first gigafactory in Europe. Northvolt’s “greenest battery on earth” is powered by 100% renewable electricity and is implemented through a localized and traceable supply chain with ambitions to pursue material recycling.

Starting with agricultural production and moving through storage, processing and distribution to green consumer products: our focus is on enabling improved sustainability of the food and agriculture value chain.   

Case Study: Twiga Foods

Twiga Foods, a Kenyan B2B food distribution company, recently raised $23.75 million in a series B equity round led by Goldman Sachs. Since its launch in 2014, Twiga has been building Kenya’s only end-to-end distribution for fresh and processed food. The equity raised will fund the continued development of Twiga’s proprietary technology and logistics assets to support the rollout of its distribution system and lay the foundation for expansion into other cities on the African continent, thereby helping to drive sustainable access to lower cost higher quality food. 

Our focus on Waste and Materials includes supporting clients that manage waste responsibly and promote sustainable production and consumption through their operations. 

Case Study: Restaurant Technologies

In 2018, funds managed by Goldman Sachs acquired Restaurant Technologies, Inc. Headquartered in Minneapolis, Restaurant Technologies provides a closed-loop system to commercial kitchens which is a safer, cleaner, sustainable and more efficient way to manage cooking oil. Once used cooking oil is collected from customer locations by Restaurant Technologies, it is sold to producers of biofuels to be used as a feedstock in the production of such fuels. Restaurant Technologies has a diverse set of customers from independent restaurants to grocery stores and hospitality venues.

Through our work in ecosystem services we are monetizing the value of forests, water, and biodiversity and contributing to the sustainable management of natural resources for our clients.

Case Study: The Conservation Fund

The Conservation Fund worked with Goldman Sachs to offer first-of-its-kind  green bonds totaling $150 million. Proceeds from the green bonds will be used to increase the scale of the “Working Forest Fund” dedicated to mitigating climate change, strengthening rural economies and protecting natural ecosystems through the permanent conservation of at-risk working forests. Working forests — forestland that is sustainably managed to supply a steady, renewable supply of wood for industry and consumer purposes — provide jobs and community benefits in addition to environmental protection.