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George Soros to invest $1 billion in “green tech”

Tue, 10/13/2009 - 6:00am
Jason Lomberg, Technical Editor

Jason-125Earlier, we reported that global investments in renewable energy had dipped 40% from 2008-09—thus, the following comes as welcome news. George Soros has decided to invest $1 billion of his own money into “green technologies.”

Soros issued a clear directive on how his money ought to be spent—and fans of clean coal shouldn’t hold their breath. "There is no magic bullet for climate change, but there is a lethal bullet: coal," he said in a speech. "I will look for profitable opportunities, but I will also insist that the investments make a real contribution to solving the problem of climate change."

 

I’m no fan of Soros or his politics, but this is the way I’d like to see renewable energy move forward—not with government loans, but with private sector financing. Hopefully, Soros’ cash will infuse life into the renewable energy sector. 

 

 

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