Blackstone Invests $1.2 Bln To Build West Virginia's First Combined-Cycle Gas Power Plant

(RTTNews) - Blackstone Energy Transition Partners (BX) announced a $1.2 billion investment to build Wolf Summit Energy, a 600-megawatt combined-cycle natural gas power plant in Harrison County, West Virginia.

The project, which has reached its final investment decision, marks the state's first-ever CCGT facility and will now move into construction.

The plant will supply efficient and reliable electricity to meet rising regional demand, including power needs from AI-driven data centers, under long-term contracts with Old Dominion Electric Cooperative, which serves 1.5 million residents across Virginia, Maryland, and Delaware. The project is expected to generate around 500 construction jobs and support further local economic development.

Blackstone executives said the investment aligns with the firm's focus on expanding energy infrastructure to support growing electricity consumption, particularly from AI and industrial growth. GE Vernova will supply its 7HA.02 turbine for the plant, emphasizing its ability to deliver flexible, high-efficiency capacity.

West Virginia's governor welcomed the investment as evidence of the state's expanding role in U.S. energy growth. Blackstone highlighted that the project builds on its broader portfolio of AI-related infrastructure and recent natural gas power plant investments across the Mid-Atlantic region.

BX currently trades at $139.62 or3.28% lower on the NYSE.