Blackstone (BX) announced that private equity funds affiliated with Blackstone Energy Transition Partners have entered into a definitive agreement to acquire Hill Top Energy Center, a 620-megawatt natural gas power plant in Western Pennsylvania for nearly $1B, from Ardian, a global private investment firm. This transaction follows Blackstone’s recent July 2025 announcement that it would invest over $25B to support the build out of Pennsylvania’s digital and energy infrastructure supporting the AI revolution and help catalyze an additional $60B investment into the Commonwealth. Santander and Houlihan Lokey served as financial advisors and Kirkland & Ellis served as a legal advisor to Blackstone Energy Transition Partners on this transaction.
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