Bank of America has set up a new plan to invest $50 billion over ten years in advanced energy projects. The announcement comes as Bank of America nears an early completion of a 10-year, $20 billion goal. Bank of America is only latest bank to announce significant investment in advanced energy, following funds set up by Wells Fargo and Goldman Sachs. Reuters reports:
"For a company in a sector that is challenged for revenue growth, this a real opportunity to create top-line revenue and to continue to develop the financial markets for" renewable energy, [Bank of America's technology and operations executive Cathy] Bessant said in an interview.