Dec. 9 (Bloomberg) -- BlackRock Inc., the world’s biggest money manager, bought a majority stake in a 68-megawatt wind farm in Texas developed by closely held OwnEnergy Inc.
Construction on the Windthorst-2 project is scheduled to begin this month, and OwnEnergy, which is retaining a minority stake, will oversee operations when it begins generating electricity next year, according to a statement today.
Morgan Stanley is providing construction funding for the power plant, which will use 28 2.3-megawatt turbines produced by Siemens AG, according to the statement. JP Morgan Chase & Co. provided equity financing.
To contact the reporter on this story: Justin Doom in New York at firstname.lastname@example.org
To contact the editor responsible for this story: Reed Landberg at email@example.com