Blackstone Inc. ( BX ) has agreed to acquire Potomac Energy Center, a 774-megawatt natural gas plant situated in Loudoun County, Virginia.

Terms of the transaction were not disclosed. This acquisition supports Blackstone’s strategy to invest in energy infrastructure that bolsters the data center sector and powers advancements in artificial intelligence.

Northern Virginia accounts for approximately 25% of the nation’s data center capacity. The Potomac plant is located near over 130 data centers.

This deal represents a significant growth opportunity for Blackstone Energy Transition Partners in meeting the rising power demands driven by the AI industry.

Blackstone views this acquisition as crucial in delivering reliable and vital energy solutions to the rapidly expanding data center market.

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Bilal Khan, Senior Managing Director at Blackstone Energy Transition Partners, emphasized that the company supports the electric infrastructure required to fuel AI innovations.

He noted that Potomac Energy Center is ideally positioned to meet the growing power demands from data centers in Northern Virginia. “We are particularly excited about this investment given the opportunity to supply reliable, baseload power to the region,” said Managing Director at Blackstone Energy Transition Partners, Mark Zhu.

Blackstone, a major player in global infrastructure investment, has a proven track record in supporting industries that power AI, including significant investments in data centers and companies like CoreWeave and DDN.

Price Action: BX shares are trading higher by 1.14% at $187.64 at the last check Friday.

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