Blackstone said on Monday it has agreed to acquire Hill Top Energy Center, a 620-megawatt natural gas power plant in Western Pennsylvania, for nearly $1 billion. ...

(Reuters) - Blackstone said on Monday it has agreed to buy a natural gas plant in Western Pennsylvania for nearly $1 billion, as the investment firm bets on rising U.S. electricity demand to power artificial intelligence technologies. U.S. power demand is projected to reach record levels in 2025, driven by data centers for AI and cryptocurrency technologies, as well as higher residential and commercial consumption. The private equity funds affiliated with Blackstone Energy Transition Partners will buy th ...