[[{“value”:”
**Blackstone to Acquire Pennsylvania Energy Center for Nearly $1B**
Private equity funds affiliated with Blackstone Energy Transition Partners have reached an agreement to acquire Hill Top Energy Center, a 620-megawatt natural gas power plant located in Western Pennsylvania. The plant is being purchased from private investment firm Ardian for nearly $1 billion.
This acquisition aligns with Blackstone’s broader commitment to investing over $25 billion to bolster Pennsylvania’s digital and energy infrastructure. The firm has also stated that these efforts may help catalyze an additional $60 billion in investment throughout the Commonwealth.
Santander and Houlihan Lokey served as financial advisors for the transaction, while legal advisory support was provided by Kirkland & Ellis.
Hill Top Energy Center, located in Greene County, was completed in 2021 and ranks among the newest and most efficient combined-cycle gas turbine plants in the United States. The facility plays a key role in supporting regional power demands and data center development.
This deal follows Blackstone’s recent investment in the Potomac Energy Center, a 774-megawatt natural gas power plant in Loudoun County, Virginia, further underscoring the firm’s strategic focus on modern natural gas infrastructure.
“}]]
