PPL and Blackstone Gas-Fired Power Plants Joint Venture

planned

PPL Corporation and Blackstone Infrastructure have launched a $15 billion joint venture to build gas-fired power plants in Pennsylvania targeting the booming data center sector. The project aims to address PJM Interconnection's looming capacity shortages by siting combined-cycle gas plants near the Marcellus and Utica shale basins, leveraging abundant natural gas and existing pipeline infrastructure. The venture plans to secure long-term energy services agreements with hyperscalers like Google and Amazon to ensure stable cash flows and price certainty. Construction is targeted to begin by 2026, supported by Pennsylvania's Fast Track permitting system.