Blackstone to buy Pennsylvania power plant for about $1 billion

Group 1 - Blackstone has agreed to acquire a natural gas plant in Western Pennsylvania for nearly $1 billion, anticipating increased U.S. electricity demand driven by AI technologies [1][2] - U.S. power demand is expected to reach record levels by 2025, influenced by data centers for AI and cryptocurrency, as well as rising residential and commercial consumption [1] - The Hill Top Energy Center, a 620-megawatt natural gas plant that began operations in 2021, will be purchased by Blackstone Energy Transition Partners from Ardian [2] Group 2 - Blackstone plans to invest over $25 billion to enhance Pennsylvania's digital and energy infrastructure to support AI [3] - Earlier investments include the acquisition of TXNM Energy for $11.5 billion and a stake in the Potomac Energy Center, a 774-megawatt natural gas power plant in Virginia [3]