Blackstone on Jan. 24 announced that Blackstone Energy Transition Partners has agreed to acquire Potomac Energy Center, a 774-megawatt natural gas power plant in Loudoun County, Virginia.
The transaction represents Blackstone’s most recent investment in the power infrastructure supporting data centers and the AI revolution, the investment firm said.
The Northern Virginia region currently represents approximately 25 percent of U.S. data center capacity, and the Potomac plant is located in close proximity to over 130 data centers – with significant further growth expected.
Terms of the transaction were not disclosed. Santander and Jefferies LLC served as M&A advisors to Blackstone on this transaction.
Blackstone Energy Transition Partners is Blackstone's energy-focused private equity business. It has invested approximately $23 billion of equity globally across a broad range of sectors within the energy industry.