Goldman Sachs’ private equity division Goldman Sachs Asset Management has invested $250m in a Canadian long-duration energy storage provider.
Hydrostor, the company that has secured the funds, said the investment will help it build 8.7GWh long-duration energy storage plants in Australia and California.
The company uses Advanced Compressed Air Energy Storage (A-CAES) technology that can store huge amounts of renewable energy over long periods.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Charlie Gailliot, Partner and Head of Energy Transition Private Equity Investing within Goldman Sachs Asset Management, said: “As the world continues transitioning to sustainable and renewable energy sources, the need for utility-scale long-duration energy storage is clear and Hydrostor’s A-CAES solution is well-positioned to become a leading player in this emerging global market.”
Source: Energy Live News
Can’t stop reading? Read more
Baillie Gifford and GIC back Toss in secondary fintech investment
Baillie Gifford and GIC back Toss in secondary fintech investment South Korean fintech platform...
Energy Capital Partners returns $5.5bn to investors after record exit year
Energy Capital Partners returns $5.5bn to investors after record exit year Energy Capital Partners...
KKR-backed Avendus sale gives Mizuho $516m entry into India investment banking
KKR-backed Avendus sale gives Mizuho $516m entry into India investment banking Mizuho Financial...