JP Morgan takes Texas wind stake

E.ON has secured a $96.2m investment from JP Morgan for its Panther Creek wind project in Texas.

The finance is for phases 1 and 2 of the three-stage project, which between them total 258MW.

The utility’s E.ON Climate & Renewables unit said the equity finance deal is its fifth with JP Morgan since December 2011.

Panther Creek 1 and 2 have been operating in Sterling and Glasscock Counties, Texas, since 2008. They were joined in 2009 by the 200MW third stage, all using GE wind turbines.

Verena Volpert, senior vice president, finance, at E.ON said: "We`re delighted to see that our high-quality projects continue to attract positive attention from first -class financial services firms like JP Morgan."