Blackstone Group is poised to shell out approximately $1 billion for the Potomac Energy Centre.

Recently, insiders revealed that Blackstone, an asset management company, has agreed to acquire the Potomac Energy Center in Loudoun County, Virginia for approximately $1 billion. The Potomac Energy Center is a 774-megawatt natural gas power plant located near data centers, accounting for a quarter of the current data center capacity in the region. According to Billaal Khan, Senior Managing Director of Blackstone's Energy Transition Partners, the plant's location, proximity to data centers, efficiency, and newer equipment made it a popular choice. With the rapid development of artificial intelligence and data centers, power demand has reached an all-time high, making power generation assets more attractive to buyers, especially natural gas power plants that can provide stable power output for data centers. Blackstone is investing in data centers and their energy infrastructure through various strategies, such as the acquisition of AirTrunk, an Australian data center operator, for $16 billion in September 2024, and the $7.5 billion debt financing of CoreWeave, an artificial intelligence cloud platform, in May 2024.