Blackstone on Monday announced a definitive agreement to acquire the Hill Top Energy Center, a 620-megawatt natural gas power plant in Western Pennsylvania, for nearly $1 billion. This strategic acquisition from Ardian global investments, is set to significantly bolster the power supply for the Pennsylvania-New Jersey-Maryland (PJM) electric market, which includes New Jersey.
The Hill Top Energy Center, completed in 2021, is one of the most efficient combined cycle gas turbine plants in the United States. Its location in Greene County, Pennsylvania, makes it a strategic asset for supporting the power demands of the rapidly expanding data center industry and other energy needs tied to the AI revolution. By supplying the PJM market, the plant will directly contribute to powering the digital infrastructure in New Jersey and the broader region.
This investment is part of a larger initiative by Blackstone, which announced in July 2025 that it would commit over $25 billion to build out Pennsylvania’s digital and energy infrastructure. The firm’s strategy is to provide essential power for the unprecedented growth of data centers, a key driver of the AI future.
Blackstone is a global leader in investing in the infrastructure required to power artificial intelligence. The firm is also the largest data center provider in the world and has made other recent power plant acquisitions, including the Potomac Energy Center in Virginia. These investments collectively position Blackstone to play a dominant role in meeting the massive energy demands of the evolving digital economy across the Northeast and Mid-Atlantic regions, including New Jersey.
