BlackRock Acquires 50% Stake in Texas Wind Farm From GE

A fund controlled by BlackRock Inc., the world’s largest money manager, acquired a 50 percent stake in a 211-megawatt wind farm in the Texas panhandle from a unit of General Electric Co.

EON SE, Germany’s biggest utility, owns the other half of the Grandview wind-power facility in Carson County, BlackRock said in a statement Thursday. Terms weren’t disclosed.

The wind farm was completed in December 2014 and has a long-term power-purchase agreement with an investment-grade buyer that New York-based BlackRock didn’t identify.

BlackRock, which has $4.7 trillion in assets under management, operates 2.1 gigawatts of wind and solar projects in the U.S., Canada, Ireland, Sweden, France and the U.K.

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