(Source: Shutterstock.com, Blackstone)
Private equity firm Blackstone Energy Transition Partners has agreed to acquire Potomac Energy Center, a 774-megawatt natural gas plant, from Ares Management for $1 billion, according to a Jan. 24 press release.
The Potomac plant, located in Loudoun County, Virginia, is sited near more than 130 data centers in “Data Center Valley” with “significant further growth expected,” Blackstone said in a separate release.
The Northern Virginia region currently represents approximately 25% of U.S. data center capacity, Blackstone said.
The plant has the potential to integrate a hydrogen fuel blend at a later time, and “could provide future environmental benefits,” said Mark Zhu, managing director at Blackstone Energy Transition Partners
Santander and Jefferies LLC served as M&A advisors to Blackstone on this transaction.
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