Originally published March 30 2005
Goldman-Sachs enters wind power business with the purchase of Zilkha
by Mike Adams, the Health Ranger, NaturalNews Editor
Goldman-Sachs, a New York investment firm, is purchasing Zilkha Renewable Energy, a Houston-based wind-energy development company. Zilkha, a privately held company, is currently developing wind power units that will create 4,000 megawatts of power harnessed from the wind. Goldman-Sachs says that it is dedicated to renewable energy and their purchase of Zilkha makes them a big player in the United States' renewable energy market.
Monday said it has agreed to acquire Zilkha Renewable Energy, a privately held wind-energy development company based in Houston.
Goldman, a New York-based investment bank and securities firm, said the transaction is expected to close in the second quarter.
Zilkha Renewable Energy, which is owned by the father-and-son team of Selim and Michael Zilkha, has energy projects of nearly 4,000 megawatts in various stages of development in a dozen states, Goldman said.
Under the agreement, Goldman is to acquire Zilkha's interests in the 200-megawatt Flat Rock Wind Power Project in Lewis County, N.Y., as well as all of Zilkha's interest in the 150-megawatt Blue Canyon Phase II Project in Oklahoma.
Both projects are expected to be completed by the end of 2005.
Goldman said it aims to play a leading role with respect to wind and other renewable forms of energy.
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