Blackstone Acquires Potomac Energy Center to Power AI-Driven Data Centers

Fueling AI And Data: Blackstone's Latest Power Play Targets Virginia's Energy-Hungry Tech Hub - Blackstone (NYSE:BX)

Potomac plant set to meet growing energy demands in Northern Virginia. Blackstone Inc. BX has agreed to acquire Potomac Energy Center, a 774-megawatt natural gas plant situated in Loudoun County, Virginia. Terms of the transaction were not disclosed. This acquisition supports Blackstone's strategy to invest in energy infrastructure that bolsters the data center sector and powers advancements in artificial intelligence. Northern Virginia accounts for approximately 25% of the nation's data center capacity. The Potomac plant is located near over 130 data centers. This deal represents a significant growth opportunity for Blackstone Energy Transition Partners in meeting the rising power demands driven by the AI industry. Blackstone views this acquisition as crucial in delivering reliable and vital energy solutions to the rapidly expanding data center market. Also Read: Verizon AI Connect Unleashes Next-Level Business Solutions - What's On The Cards? Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, emphasized that the company supports the electric infrastructure required to fuel AI innovations. He noted that Potomac Energy Center is ideally positioned to meet the growing power demands from data centers in Northern Virginia. "We are particularly excited about this investment given the opportunity to supply reliable, baseload power to the region," said Managing Director at Blackstone Energy Transition Partners, Mark Zhu. Blackstone, a major player in global infrastructure investment, has a proven track record in supporting industries that power AI, including significant investments in data centers and companies like CoreWeave and DDN. Price Action: BX shares are trading higher by 1.14% at $187.64 at the last check Friday. Read Next: Nvidia, Microsoft, Or Oracle: Which Stock Among These Stargate AI Project Beneficiaries Are The Least Expensive To Own? Image via Shutterstock. BXBlackstone Inc$187.631.14%Overview Rating:Good62.5%Technicals Analysis1000100Financials Analysis400100WatchlistOverview This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. Market News and Data brought to you by Benzinga APIs

Blackstone to Buy Power Plant, Infrastructure Supporting Data Centers and AI Demand

Blackstone agreed to acquire Potomac Energy Center, a natural gas power plant in Virginia. Financial terms of the deal weren't disclosed. The private equity firm said the deal through Blackstone Energy Transition Partners represents its most recent investment in the power infrastructure supporting data centers and the artificial-intelligence boom. The New York-based firm said the Potomac plant is located in close proximity to over 130 data centers.