{"id":11996,"date":"2025-10-23T02:41:25","date_gmt":"2025-10-23T02:41:25","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-pa\/11996\/"},"modified":"2025-10-23T02:41:25","modified_gmt":"2025-10-23T02:41:25","slug":"blackstone-to-buy-pennsylvania-power-plant-for-about-1-billion","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-pa\/11996\/","title":{"rendered":"Blackstone to buy Pennsylvania power plant for about $1 billion"},"content":{"rendered":"

Sept 15 (Reuters) – Blackstone (BX.N), opens new tab<\/a> said on Monday it has agreed to buy a natural gas plant in Western Pennsylvania for nearly $1 billion, as the investment firm bets on rising U.S. electricity demand to power artificial intelligence technologies.U.S. power demand is projected to reach record levels<\/a> in 2025, driven by data centers for AI and cryptocurrency technologies, as well as higher residential and commercial consumption.<\/p>\n

Sign up here.<\/a><\/p>\n

The private equity funds affiliated with Blackstone Energy Transition Partners will buy the Hill Top Energy Center, owned by private investment firm Ardian. The 620-megawatt natural gas plant began operations in 2021.<\/p>\n

\u201cThe electricity infrastructure required to power the AI revolution requires a tremendous amount of capital,” Blackstone executives Bilal Khan and Mark Zhu said, adding that the Hill Top plant is well-positioned to support the boom.<\/p>\n

The deal follows Blackstone’s announcement in July that it will invest over $25 billion to support Pennsylvania’s digital and energy infrastructure to power AI, it said.<\/p>\n

Earlier this year, Blackstone said it would acquire TXNM Energy (TXNM.N), opens new tab<\/a> in an $11.5 billion deal<\/a>. In January, the asset manager also made an investment in the Potomac Energy Center, a 774-megawatt natural gas power plant in Virginia.<\/p>\n

Reporting by Sumit Saha in Bengaluru; Editing by Sahal Muhammed<\/p>\n

Our Standards: The Thomson Reuters Trust Principles., opens new tab<\/a><\/p>\n

Purchase Licensing Rights<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Sept 15 (Reuters) – Blackstone (BX.N), opens new tab said on Monday it has agreed to buy a…\n","protected":false},"author":2,"featured_media":11997,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[6939,9424,9425,9426,9427,9447,9448,9428,9449,9429,9455,9456,9457,9438,9437,9439,9440,9441,2328,9450,9430,9431,9432,9433,9434,4751,9435,6940,9451,9422,9453,28,30,29,9436,9442,9452,9423,9454,9445,9444,9446,593,9443],"class_list":{"0":"post-11996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-pennsylvania","8":"tag-amers","9":"tag-bact","10":"tag-bisv","11":"tag-biz","12":"tag-blr","13":"tag-cefu","14":"tag-cinv","15":"tag-cmpny","16":"tag-com","17":"tag-deal1","18":"tag-destlita","19":"tag-destoenr","20":"tag-destoma","21":"tag-destousbsm","22":"tag-destousnrg","23":"tag-eleu","24":"tag-elut","25":"tag-elut1","26":"tag-energy","27":"tag-enr","28":"tag-fin","29":"tag-fins","30":"tag-invbis","31":"tag-invm","32":"tag-invman","33":"tag-legal","34":"tag-mrg","35":"tag-namer","36":"tag-nrg","37":"tag-nrlpaoenr","38":"tag-nrlpaoma","39":"tag-pennsylvania","40":"tag-pennsylvania-headlines","41":"tag-pennsylvania-news","42":"tag-publ","43":"tag-pve","44":"tag-pwr","45":"tag-repigrid-infrastructure","46":"tag-reuters-legal","47":"tag-topicenergy-transition","48":"tag-topicmarkets-commodities-energy","49":"tag-topnws","50":"tag-us","51":"tag-util"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/11996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/comments?post=11996"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/posts\/11996\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media\/11997"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/media?parent=11996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/categories?post=11996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-pa\/wp-json\/wp\/v2\/tags?post=11996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}