Blackstone announces $1.2B investment to build Wolf Summit Energy

Blackstone (BX), through funds affiliated with Blackstone Energy Transition Partners, announced a $1.2 billion investment to build Wolf Summit Energy, a fully contracted, 600-megawatt greenfield combined-cycle gas turbine power generation facility in Harrison County, West Virginia. Last week’s Final Investment Decision, FID, provides financing for the project, allowing it to commence construction. The company said, “Wolf Summit will be the first-ever combined-cycle natural gas power plant built in West Virginia and is designed to help deliver efficient and reliable power to meet the growing local energy needs – including from data centers supporting AI innovation – of Old Dominion Electric Cooperative, which serves approximately 1.5 million residents across Virginia, Maryland and Delaware.”