BlackRock buys Texas wind farm

Investment group BlackRock has agreed to buy a majority stake in a 68MW wind project in Texas from developer OwnEnergy, with Siemens supplying the turbines.

BlackRock will buy the Windthorst 2 wind farm, which is due to enter construction this month and start operations in autumn 2014.

The plant will use 28 Siemens 2.3MW turbines. OwnEnergy will keep a minority interest and manage operation of the wind farm.

Morgan Stanley is providing construction finance to the project, with JP Morgan supplying institutional equity.

New York-based OwnEnergy said: "Windthorst 2 is our fifth successful project, bringing the total of in-construction and spinning wind farms we've developed to more than 210MW. OwnEnergy's project pipeline now consists of 1,400MW of community-scale wind across 16 states."