With a $1B power plant deal in Virginia, Blackstone continues to bet big on data centers and the infrastructure to power them.

Prominent private equity investment firm Blackstone has agreed to acquire the 774-MW Potomac Energy Center—a natural gas power plant located in Virginia’s

The Northern Virginia region currently represents approximately 25 percent of U.S. data center capacity, and the Potomac plant is located in close proximity to over 130 data centers – with significant further growth expected'.

The unit of Blackstone dedicated to investments in the energy industry has agreed to acquire Potomac Energy Center, the asset manager told Reuters on Thursday, in a deal symbolizing the allure to investors of power plants sited near data centers.

Blackstone has acquired the 774-megawatt Potomac Energy Center in Loudoun County, Virginia. This strategic move strengthens Blackstone's investments in energy infrastructure.

Shares of Blackstone Inc (BX) were in the spotlight on Friday after the company announced that Blackstone Energy Transition Partners have agreed to acquire Potomac Energy Center, a 774-megawatt natural gas power plant in Loudoun County,