Blackstone has committed US$1.2 billion to build Wolf Summit Energy, the first-ever combined-cycle natural gas power plant in West Virginia, U.S.
Blackstone, through funds affiliated with Blackstone Energy Transition Partners, will build the 600-megawatt greenfield combined-cycle gas turbine power generation facility in Harrison County, West Virginia.
Wolf Summit is designed to help meet the local energy needs of Old Dominion Electric Cooperative, which serves approximately 1.5 million residents.
Bilal Khan, a senior managing director, and Mark Zhu, a managing director at Blackstone, said: “Helping meet the rising demand for electricity from AI and other areas is among our highest conviction investment themes at Blackstone.
“We are proud that this project is expected to not only create hundreds of local jobs in West Virginia, but also generate more affordable, efficient and reliable power supply.”
The project is expected to create 500 construction jobs and spur local economic development.
“West Virginia’s status as a global energy player is only beginning to be realised. Blackstone’s $1.2 billion investment not only signifies its commitment to West Virginia, it highlights our emergence as the leading state in the country for energy growth and investment,” said West Virginia Governor Patrick Morrisey.
Blackstone Energy Transition Partners had also made recent investments in natural gas with investments in Hill Top Energy Center, a 620-megawatt natural gas power plant in Western Pennsylvania and Potomac Energy Center, a 774-megawatt natural gas power plant in Virginia.