Blackstone Energy Transition Partners to Acquire Potomac Energy Center
Deal News | Jan 24, 2025 | Blackstone
Blackstone Energy Transition Partners, a division of Blackstone, has announced its acquisition of the Potomac Energy Center, a 774-megawatt natural gas power plant located in Loudoun County, Virginia. This acquisition emphasizes Blackstone's focus on enhancing energy infrastructure amid the growth of AI and data center demands. With Loudoun County housing approximately 25% of the U.S. data center capacity and over 130 data centers nearby, the Potomac Energy Center is strategically positioned to cater to burgeoning power needs. Blackstone is enhancing its reputation within the sector, recently investing in CoreWeave and DDN, highlighting its commitment to support AI innovation through robust energy solutions. In this transaction, Santander and Jefferies LLC acted as M&A advisors for Blackstone. Terms of the deal, however, were not disclosed.
Sectors
- Energy
- Technology
- Infrastructure
Geography
- United States – The transaction involves the acquisition of a power plant in Loudoun County, Virginia, making it relevant to the United States geography.
- Virginia – Loudoun County in Virginia hosts the Potomac Energy Center, the central asset in the acquisition, and is a key region for data center capacity.
Industry
- Energy – The acquisition revolves around a natural gas power plant, Potomac Energy Center, highlighting the energy sector's role in supporting data center operations.
- Technology – Blackstone's focus on powering the AI revolution connects this article to the technology sector, emphasizing the link between data centers, AI, and energy infrastructure.
- Infrastructure – The investment in Potomac Energy Center is part of a broader strategy to enhance infrastructure that supports technological advancements and meets increasing data-related power demands.
Financials
- Not disclosed – The financial terms of the acquisition of Potomac Energy Center by Blackstone were not disclosed.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackstone | Buyer | Company | Blackstone is the world's largest alternative asset manager, known for its diverse investment strategies across various sectors. |
| Blackstone Energy Transition Partners | Investor/Buyer | Company | A division of Blackstone focusing on energy sector investments, emphasizing solutions for cleaner and reliable energy. |
| Potomac Energy Center | Target Company | Company | A 774-megawatt natural gas power plant located in Loudoun County, Virginia, acquired by Blackstone Energy Transition Partners. |
| Creto Energy | Platform Operator | Company | Blackstone Energy Transition Partners' North America power platform, potentially managing and overseeing the integration of Potomac Energy Center. |
| Santander | M&A Advisor | Company | A financial institution that advised Blackstone in this acquisition transaction. |
| Jefferies LLC | M&A Advisor | Company | An investment bank that acted as an advisor to Blackstone regarding this acquisition. |