Blackstone Acquires $1B Power Plant Near Virginia Data Centers

Blackstone’s energy investment unit has made a significant move in the power sector, agreeing to acquire the Potomac Energy Center in a deal that underscores the growing appeal of power plants located near data centers. The asset manager announced on Thursday that Blackstone Energy Transition Partners will purchase the 774-megawatt natural gas-fired power plant situated in Loudoun County, northern Virginia.

While the official statement did not disclose financial details, sources familiar with the transaction told Reuters that Blackstone is set to pay approximately $1 billion for the facility. The power plant, previously owned by Ares Management since 2021, is strategically located in an area estimated to host about a quarter of the current U.S. data center capacity.