EON Gets $223.6 Million in Financing for Texas Wind Project

EON AG, Germany’s largest utility, received $223.6 million in financing for a wind farm it built in southern Texas.

Investors including JPMorgan Chase & Co. (JPM) and Wells Fargo & Co. provided $167.7 million in equity financing and a commitment for another $55.9 million for the 203-megawatt Magic Valley Wind Farm near Raymondville, Texas, EON said today in a statement. The wind farm began producing power in September and has 112 Vestas Wind Systems A/S (VWS) 1.82-megawatt turbines.

To contact the reporter on this story: Ehren Goossens in New York at egoossens1@bloomberg.net

To contact the editor responsible for this story: Will Wade at wwade4@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.