Thursday, September 2, 2010

Goldman (NYSE:GS) Continues to Hold Nevada Solar Claims

Goldman Sachs & Co. (NYSE:GS) has come under some criticism for its lack of moving forward with solar development on lands in Nevada it has leased.

The Bureau of Land Management offered leases on a first-come-first-serve basis five years ago, and Goldman snatched up 52 of the 354 applications via two of their subsidiaries.

Cogentrix, one of Goldman's subsidiaries, has applied for "nearly as much federal land as all other companies combined. Its active lease applications cover about 120,000 acres — the equivalent of more than eight Manhattans," according to a report from the AP.

The implication is Goldman is blocking others from solar development, which spokesman Ed Canaday responded to, saying they're learning as they go, and have been starting off on smaller developments in other states, such as a 250-acre project on private land in Colorado.

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