Blackstone has announced an investment of over $25 billion through its Infrastructure and Real Estate funds to develop Pennsylvania’s digital and energy infrastructure. This initiative is expected to attract an additional $60 billion in investments, leveraging Blackstone’s expertise in data centers and energy infrastructure.
These are some of the key developments:
- Data Centers: QTS, the largest independent data center operator backed by Blackstone, has secured multiple land sites in Northeastern Pennsylvania for new data center developments and plans to invite other communities to participate.
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Partnership with PPL: Blackstone has formed a joint venture with Allentown-based PPL to invest in new natural gas power generation facilities, supporting electricity needs for future AI and industrial developments.
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Job Creation: The project is projected to create over 6,000 jobs annually during a 10-year construction period, plus 3,000 permanent jobs during operations.
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Energy Advantage: Pennsylvania’s low-cost energy, contributing to 20% of the nation’s natural gas production, positions it as a key hub for AI development.
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Efficient Project Management: QTS plans to work with local and state officials to ensure efficient permitting through Pennsylvania’s Fast Track project management system.
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Community Engagement: Blackstone aims to align its investments with state and local goals, engaging in community outreach and volunteer opportunities.
Construction is expected to start by the end of 2028, pending necessary approvals.
KEY QUOTES:
“We’re thrilled to be investing behind two of our highest conviction themes – digital infrastructure and energy – in a part of the country that is ideally situated to support and expand America’s leading position in the AI revolution. We look forward to working with our partners in government, local communities, and with the people of Pennsylvania to meaningfully invest in the growth of the commonwealth’s digital and energy infrastructure.”
Jon Gray, Blackstone’s President and Chief Operating Officer
“Pennsylvania is transforming into a strategic hub for AI innovation, and we’re excited to work with our partners at PPL to invest in the generation needed to support this critical digital infrastructure.”
Sean Klimczak, Blackstone’s Global Head of Infrastructure
“This announcement is reflective of Blackstone’s track record of partnering with governments, local communities and customers to create win-win-win outcomes. As the leading global investor in data centers, we are excited to help advance the nation’s digital infrastructure goals.”
Nadeem Meghji, Blackstone’s Global Co-Head of Real Estate
“Pennsylvania is well positioned for data center growth and has become a market where we’re seeing substantial demand from hyperscalers and other customers for high-quality digital infrastructure. We look forward to engaging with communities and leaders across the Commonwealth to position our leading data center platform to support the digital infrastructure needs of Pennsylvania businesses and families.”
Tag Greason, Co-CEO of QTS
