Blackstone completed the acquisition of Potomac Energy Center from Ares Management.

Blackstone, an alternative asset manager, completed the acquisition of Potomac Energy Center, a 774-megawatt natural gas power plant, from Ares Management, a global alternative investment manager. Financial terms were not disclosed. “This investment underscores Blackstone’s commitment to investing in the electric infrastructure required to power AI innovation. We believe Potomac is well-positioned to help meet data center-driven power demand growth in Northern Virginia,” Bilal Khan, Blackstone Senior Managing Director at Energy Transition Partners.