July 15 (Reuters) - Blackstone plans to invest $25
billion in developing data centers and power plants in
Pennsylvania, President and Chief Operating Officer Jon Gray
said at a panel at the Energy and Innovation Summit in
Pittsburgh on Tuesday.
Blackstone had identified several sites to build the
energy-intensive centers, Gray said, adding that the private
equity firm also plans to partner with an electric utility to
build multiple natural gas power generation facilities to fuel
the data centers in Pennsylvania.
Big Tech is fueling a turnaround in U.S. power consumption with
the expansion of data centers, which are needed to train and
roll out artificial intelligence.
One of the biggest roadblocks in the race to expand artificial
intelligence technologies are the long wait times, caused by
supply chain constraints and permitting, to power data centers.
Locating data centers directly at the sites of power plants, an
arrangement known as co-location, can potentially cut down time
to power.
Blackstone plans to focus on co-located projects in
Pennsylvania, Gray said.
"W
," Gray said.