(Reuters) – Blackstone will buy Hill Top Energy Center, a 620-megawatt natural gas power plant in Western Pennsylvania, for nearly $1 billion, the alternative asset manager said on Monday.
U.S. power demand is projected to reach record levels in 2025, driven by data centers for artificial intelligence and cryptocurrency technologies, as well as higher residential and commercial consumption.
The deal follows Blackstone’s announcement in July that it will invest over $25 billion to support Pennsylvania’s digital and energy infrastructure to power the AI boom.
(Reporting by Sumit Saha in Bengaluru; Editing by Sahal Muhammed)
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