domingo, junho 01, 2014

Goldman Sachs especula com Sol e vento

Ivanpah Solar Electric Generating System - um projeto com menos de 25% de eficiência (LINK)

Pinóquio 'socialista' dinamarquês vendeu a alma ao diabo, tal como ocorreu em Portugal


Especuladores da Goldman Sachs atacaram em janeiro deste ano o setor energético da Dinamarca, acenando com bons negócios aos seus cleintes, evocando subrepticiamente a venda da Horizon Wind Energy à EDP. Para que conste...

Goldman Sachs sees “transformational moment” in renewables investment
By Giles Parkinson on 31 January 2014, in REneweconomy.

Investment banking giant Goldman Sachs has declared the renewable energy sector to be one of the most compelling and attractive markets – and is backing up its talk with $US40 billion ($A46 billion) of made and planned investments.

[...]

Among Goldman Sachs’ key investments are a recently-approved $1.5 billion investment for a near 20 per cent stake in Danish offshore wind energy developer Dong Energy.

It has also a substantial investment in BrightSource Energy, which is about to bring its huge Ivanpah solar power project (pictured) into full production – it will be the largest in the world.

Goldman Sachs also provided $500 million of finance to SolarCity, to allow the biggest solar installer in the US to expand its solar leasing business. Goldmans is one of a number of banks to do that –the latest was Bank of America/Merrill Lynch.

It has also been an early investor in First Solar, the largest solar PV manufacturer in the US, SunEdison, and made big money from the sale of  Horizon Wind Energy to Portugal’s EDP for $2.15 billion in 2007.

Goldman’s commitment of $40 billion is based around a number of assumptions – that costs will continue to decline as efficiency improves, that solar and wind will reach grid parity without subsidies in the not-too-distant future, and that energy storage issues will also be solved.

It also believes that the position of coal at the top of the global fuel mix is eroding – something that it highlighted in a recent report that said the window for thermal coal was closing rapidly.
A closer look at a Goldman Sachs deal many in Denmark find rotten
FT. January 31, 2014. By Richard Milne, Nordic Correspondent.

Goldman Sachs has faced plenty of unsavoury claims in recent years – from accusations about its role in the global financial crisis to suggestions it helped the Greek government massage its figures. Now it can be said to have nearly brought down the Danish government.

Much of the ire directed against an investment deal for a state-owned Danish utility stems solely from the involvement of the US investment bank, derided this week by protesters in Copenhagen waving banners of a vampire squid.

[...]

4. Goldman’s veto rights

The sharing of risk was not the only problem people found in the finance ministry document. It also detailed how New Energy Investment – the name of the investment vehicle Goldman is using to buy the stake – will get veto rights that no other investor will enjoy.

So if Dong wants to deviate from its current business plan, change its chief executive or finance director, make a big acquisition, or sell new shares, it needs to gain the prior approval of Goldman.


Goldman Deal on Danish Energy Splits Copenhagen Coalition
Bloomberg. By Peter Levring and Christian Wienberg Jan 30, 2014.

Denmark’s government mustered enough votes to let Goldman Sachs Group Inc. (GS) buy a stake in state-owned Dong Energy A/S after resistance to the deal prompted one of the ruling coalition’s three parties to quit.

The government of Prime Minister Helle Thorning-Schmidt won majority lawmaker backing for the deal even after the Socialist People’s Party left the coalition today.
Socialists Furious As Denmark Lets Goldman Have The Dong
Zero Hedge, 30/01/2014.

Yesterday we reported that Goldman’s attempt to buy an 18% stake in Dong Energy, the world’s biggest operator of offshore wind farms, while largely preapproved by Danish politicians, had met with solid resistance by the broader population, which had started a petition to block the sale, signed by nearly 200,000 as of yesterday. Alas, despite the valiant effort by the population to keep the energy company - with 68% of the population polled as being against the deal - the country’s politicians, certainly with no palms greased by the world’s biggest depositor-insured hedge fund - just let Goldman have the DONG.  As Bloomberg reports, “a majority in Denmark’s parliament will let Goldman Sachs Group Inc. proceed with its purchase of a stake in state-owned utility Dong Energy A/S, according to a senior lawmaker in the ruling Social Democrat Party.”
Angry Danes Refuse To Sell 19% Of Their DONG To Goldman Sachs
Zero Hedge, 29/01/2014.

With the (emerging) world suddenly collapsing, appropriately enough on the Chairsatan’s last FOMC conference, here is an amusing update from Denmark where apparently the locals are less than excited about giving away their DONG (that would be Danish Oil & Natural Gas for the perverts) to Goldman Sachs. Specifically, over the past several days, a whopping 186,000 Danes have signed a petition to stop the sale of a 19% stake with extraordinary minority stakeholder rights in DONG to Goldman Sachs. Then again, every DONG has its price...

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