SEATTLE (Oil Monster): Ardian, a private investment group, sold a 620-megawatt (MW) natural gas power facility in Western Pennsylvania to Blackstone. The purchase price of the Hill Top Energy Center is over $1 billion. According to reports, Blakstone Energy Transition Partners and Ardian have reached a definitive agreement.
Hill Top is considered to be one of the most advanced and highly effective power producing facilities in its class.
Blackstone Energy Transition Partners managing directors Bilal Khan and Mark Zhu commented on the acquisition, saying the company is pleased to invest in a field that has been one of its most fervent investing themes.
The investment is a component of the $25 billion that was already committed to enhancing Pennsylvania's energy and digital infrastructure. Furthermore, Blackstone and Allentown-based utility PPL have teamed up to make investments in the state's new natural gas power producing facilities.
Potomac Energy Center is a 774-MW natural gas power facility located in Loudoun County, Virginia, that Blackstone recently invested in. Additionally, during the previous seven years, it has been instrumental in the creation and building of about 1,600 megawatts (MW) of electricity nationwide.
