Private equity funds affiliated with Blackstone's Energy Transition Partners agreed to acquire the 620-MW Hill Top Energy Center, a natural-gas-fired power plant from Ardian for nearly $1 billion.
The plant, located in in western Pennsylvania, was completed in 2021 in Greene County. It supplies electricity to the PJM power market and is positioned to support rising power demand from data centers and AI infrastructure.
Santander and Houlihan Lokey served as financial advisors and Kirkland & Ellis served as a legal advisor to Blackstone.