The unit of Blackstone dedicated to investments in the energy industry has agreed to acquire Potomac Energy Center, the asset manager told Reuters on Thursday, in a deal symbolizing the allure to investors of power plants sited near data centers.

"Blackstone Energy to buy $1bn gas-fired power plant in Virginia" was originally created and published by Power Technology, a GlobalData owned brand.

Blackstone Energy Transition Partners ( BX, Financials) announced its agreement to acquire the Potomac Energy Center, a 774-megawatt natural gas power plant in Loudoun County, Virginia, as part of its strategy to enhance infrastructure for data centers and artificial intelligence.

Blackstone has acquired the 774-megawatt Potomac Energy Center in Loudoun County, Virginia. This strategic move strengthens Blackstone's investments in energy infrastructure.

Surging electricity growth is providing more opportunities for investors, especially in natural gas-fired generation.

Blackstone’s energy investment unit has agreed to purchase the Potomac Energy Center from Ares Management. First reported by Reuters, Blackstone Energy Transition Partners will acquire the 774MW natural gas plant in Loudoun County, Northern Virginia.

The transaction represents Blackstone’s most recent investment in the power infrastructure supporting data centers and AI.