Pipeline operator Williams secures $5.3 billion investment from Blackstone-led group

July 13 (Reuters) - U.S. pipeline operator Williams said on Monday a consortium led by Blackstone will invest $5.34 billion for a 49% noncontrolling stake in five of its behind-the-meter power generation projects.

The consortium, which also includes Apollo and insurance vehicles and accounts managed by KKR , will provide $4.4 billion representing 49% of expected growth capital expenditures for the projects, along with about $900 million of additional consideration to Williams.

The transaction covers the company's Socrates, Apollo, Aquila, Socrates the Younger and Neo projects, part of a broader pipeline of more than 6 gigawatts of power projects that Williams is developing.

(Reporting by Sumit Saha in Bengaluru; Editing by Maju Samuel)