The goal of the Texas Power Grid Investment Summit was to attract investors to build natural gas power plants in Texas. But it was colored by the history of BlackRock and Lt. Gov. Dan Patrick, the two main organizers.
Lt. Gov. Dan Patrick hosted a summit in Houston on Tuesday to encourage investors to build natural gas power plants in Texas.
After that divestment push, BlackRock went into damage control and began touting the billions it still puts in the industry. Patrick said Fink reached out to him directly, and the two began talking. At times the sales pitch almost took the tone of an auction or, as Patrick joked, a “timeshare presentation.”
Speaking to reporters after the event got underway, Lt. Gov. Patrick and some of his allies in the state Senate said they were optimistic that outreach and the state incentives would bear fruit.“If we can’t get an incentive program to attract investors to build, then the state will have to build ourselves and then subcontract out for someone else to run it,” he said.
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