Blackstone to Invest $25 Billion in Co-Located Data Centers, Gas Plants in Pennsylvania
(Reuters) — Blackstone plans to invest $25 billion in developing data centers and power plants in Pennsylvania, President and Chief Operating Officer Jon Gray said at a panel at the Energy and Innovation Summit in Pittsburgh on July 15.
Blackstone had identified several sites to build the energy-intensive centers, Gray said, adding that the private equity firm also plans to partner with an electric utility to build multiple natural gas power generation facilities to fuel the data centers in Pennsylvania.
Big Tech is fueling a turnaround in U.S. power consumption with the expansion of data centers, which are needed to train and roll out artificial intelligence.
One of the biggest roadblocks in the race to expand artificial intelligence technologies are the long wait times, caused by supply chain constraints and permitting, to power data centers. Locating data centers directly at the sites of power plants, an arrangement known as co-location, can potentially cut down time to power.
Blackstone plans to focus on co-located projects in Pennsylvania, Gray said.
"What makes us so excited about this area is the idea that you can co locate data centers directly next to the source of power and that's really the special sauce here is being able to put these things together," Gray said.
Related News
Related News
- Enbridge Plans 86-Mile Pipeline Expansion, Bringing 850 Workers to Northern B.C.
- Intensity, Rainbow Energy to Build 344-Mile Gas Pipeline Across North Dakota
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
- 208-Mile Mississippi-to-Alabama Gas Pipeline Moves Into FERC Review
- Court Ruling Allows MVP’s $500 Million Southgate Pipeline Extension to Proceed
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- A Systematic Approach To Ensuring Pipeline Integrity
- 275-Mile Texas-to-Oklahoma Gas Pipeline Enters Open Season
- LNG Canada Start-Up Fails to Lift Gas Prices Amid Supply Glut
- Strike Pioneers First-of-Its-Kind Pipe-in-Pipe Installation on Gulf Coast with Enbridge
Comments