February 1, 2008 -- Goldman to invest in solar company

By Rachel Liu

Goldman Sachs Group Inc., has joined CDH Investments and Himin Solar Energy Group Co. in a strategic cooperation agreement, signed in Dezhou, Shandong province, on January 9, reported the local state-owned Dezhou Daily newspaper.

Goldman Sachs and CDH Investments will intially invest about US$100 million in Himin Solar Energy Group Co, and will help Himin Solar Energy Group with marketing.

Meanwhile, more and more global energy enterprises have been attracted by the lower labor costs and growing manufacturing technology of China. Himin Solar Energy is a privately owned company based in eastern China's Shandong province.

The government has set a goal of increasing the consumption of renewable energy to 15 percent of total energy consumption by 2020, according to an announcement of the National Development and Reform Commission last September.