Blackstone’s energy-focused private equity business is investing $1.2bn (€1bn) to build 600MW natural gas power generation facility in the southern US.
The investment by Blackstone Energy Transition Partners will build Wolf Summit Energy, a greenfield combined-cycle gas turbine power generation facility in Harrison County.
The Wolf Summit project, which is being developed with GE Vernova, will be the first-ever natural gas power generation facility in West Virginia.
Bilal Khan, senior managing director, and Mark Zhu, managing director, at Blackstone, said: “Helping meet the rising demand for electricity from AI and other areas is among our highest conviction investment themes at Blackstone.
“We are proud that this project is expected to not only create hundreds of local jobs in West Virginia, but also generate more affordable, efficient and reliable power supply.”
Dave Ross, president and CEO, GE Vernova’s gas power business in the Americas, said: “I am excited that the first-ever combined-cycle, natural gas power plant in West Virginia is being built using GE Vernova’s highly efficient and flexible 7HA.02 gas turbine that can provide capacity and energy for the rising AI and industrialisation demands in PJM.”
Patrick Morrisey, governor of West Virginia, said: “We look forward to working closely with Blackstone to complete development and start construction of this important project for the community.
“West Virginia’s status as a global energy player is only beginning to be realised. Blackstone’s $1.2bn investment not only signifies its commitment to West Virginia, it highlights our emergence as the leading state in the country for energy growth and investment.”
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