Blackstone Energy Transition Partners has announced a nearly $1 billion acquisition of the Hill Top Energy Center, a 620-megawatt natural gas power plant in Western Pennsylvania, as part of its aggressive push into the U.S. energy infrastructure market. The deal comes as U.S. electricity demand surges to record highs in 2025, driven by the explosive growth of artificial intelligence (AI) data centers, cryptocurrency mining facilities, cloud computing, and rising residential and commercial consumption.
The Hill Top Energy Center, which began operations in 2021 and was previously owned by Ardian, is strategically positioned to meet the rising AI energy demand. According to Blackstone executives Bilal Khan and Mark Zhu, “The electricity infrastructure required to power the AI revolution requires a tremendous amount of capital. Hill Top is well-positioned to support this historic shift.”
This acquisition follows Blackstone’s July announcement of a $25 billion investment plan to strengthen Pennsylvania’s digital infrastructure and energy grid, designed to power the next wave of AI innovation and digital transformation.
Earlier in 2025, Blackstone acquired TXNM Energy for $11.5 billion and invested in the Potomac Energy Center, a 774-megawatt natural gas plant in Virginia, showcasing its expanding footprint in clean energy transition, grid reliability, and digital infrastructure investment. With this acquisition, Blackstone strengthens its role as a leading player in AI-powered energy solutions, sustainable infrastructure development, and next-generation power markets, ensuring reliable electricity supply for the AI, crypto, and data-driven economy.
