Blackstone to Invest $25 Billion for Constructing, Powering Pennsylvania Data Centers

Published: 2025-07-15 15:37:08 ET BX

Published on 07/15/2025 at 15:37

By Nicholas G. Miller

Blackstone is investing more than $25 billion to build and operate data centers and natural gas generators in Pennsylvania.

The investment management company said Tuesday it has secured multiple sites in northeastern Pennsylvania to build data centers and has formed a joint venture with PPL Corporation, a leading utility in the state, to generate natural gas to power the sites.

Blackstone said Pennsylvania's significant natural gas reserves make it the ideal place to generate power for data centers.

PPL owns 51% of the joint venture for natural gas production with Blackstone owning the rest, PPL said Tuesday.

Construction on the projects is expected to begin by the end of 2028, Blackstone said.

Write to Nicholas G. Miller at [email protected].

(END) Dow Jones Newswires

07-15-25 1536ET