Blackstone Energy Transition Partners has announced its acquisition of the Potomac Energy Center, a 774-megawatt natural gas power plant located in Loudoun County, Virginia. This investment aligns with Blackstone's strategy to enhance power infrastructure, particularly in support of the growing demand from data centers and artificial intelligence (AI) technologies.

The Potomac plant is strategically situated near over 130 data centers in Northern Virginia, which accounts for about 25% of the U.S. data center capacity. Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, emphasized that this acquisition reflects the firm’s commitment to investing in the electric infrastructure necessary for AI innovation. He noted that the plant is well-positioned to meet the increasing power demands driven by data centers in the region.

Mark Zhu, another Managing Director at Blackstone, highlighted the plant's efficiency and its potential to incorporate a hydrogen fuel blend in the future, which could enhance its environmental benefits. Lee Davis, CEO of Creto Energy, expressed enthusiasm about the investment, citing Potomac's reputation for reliable power generation as crucial for supporting the region's energy needs.

Blackstone is recognized as a leader in investing in infrastructure that powers AI innovation, with significant investments in data centers globally. The firm has also recently invested in CoreWeave, a provider of critical cloud infrastructure for AI, and DDN, a leader in AI and data intelligence solutions. The financial terms of the Potomac acquisition were not disclosed, but Santander and Jefferies LLC acted as M&A advisors for the transaction.

As the world's largest alternative asset manager, Blackstone manages over $1.1 trillion in assets across various investment strategies, including real estate, private equity, and infrastructure. Blackstone Energy Transition Partners focuses on energy investments, having deployed approximately $23 billion globally across diverse sectors within the energy industry. The firm aims to back exceptional management teams with flexible capital to foster growth and improve performance in energy companies, ultimately delivering cleaner and more reliable energy solutions.

For more information about Blackstone and its investment strategies, visit their website or follow them on social media platforms.