Goldman Sachs To Begin Investing in Japanese Green Energy Ventures

$2.9 billion for the next five years

US investment banking giant Goldman Sachs said Monday it will start investing in Japanese renewable energy projects, with a reported $2.9 billion outlay over the next five years.

The injection comes after Japan's government stepped into the green power market to set minimum prices in a bid to encourage the sector as the country seeks to rebalance its post-Fukushima energy mix.

A wholly owned unit in Tokyo said it will invest in a solar power generation project in Ibaraki prefecture on the outskirts of Tokyo, which is due to start operation in January 2015.