In a blockbuster energy transaction, Blackstone will pay nearly $1 billion to acquire the Hill Top Energy Center, a massive natural gas-fired power plant in Western Pennsylvania, from French investment firm Ardian, the companies confirmed Monday.
A New Engine for America’s AI Future
Completed in 2021, the 620-megawatt combined cycle facility has quickly been branded a modern marvel of efficiency. Blackstone hailed it as “one of the newest and most efficient plants in the country,” adding that the site is primed to serve as a strategic hub powering America’s AI boom.
The plant will continue fueling data centers across Pennsylvania, New Jersey and Maryland, placing it at the heart of the digital economy’s power demands.
“The electricity infrastructure required to power the AI revolution requires a tremendous amount of capital,” said Bilal Khan, senior managing director, and Mark Zhu, managing director at Blackstone Energy Transition Partners, in a joint statement. “Hill Top is best-in-class—highly efficient, modern, and positioned to make Pennsylvania a critical hub for AI innovation.”
