Blackstone, through funds affiliated with Blackstone Energy Transition Partners, has completed construction of the Magnolia Power Generating Station, a greenfield combined-cycle gas turbine (CCGT) power plant with a capacity of around 694MW, in Plaquemine, Louisiana, US.
The facility is currently operational and aims to supply electricity to more than 500,000 homes in Louisiana.
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Construction of the Magnolia Power Generating Station commenced in 2022 and employed more than 400 local workers.
The power plant is noted for being the first hydrogen-capable, advanced-class generator in the Midcontinent Independent System Operator South region.
It was developed through Kindle Energy, Blackstone’s North American power platform, amid rising power demands driven by increased data digitisation and advancements in AI.
Kindle Energy CEO Lee Davis said: “This marks an important milestone for our company as we continue to build new, efficient power generation for our valued partners and customers in Louisiana, Colorado and West Virginia.
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By GlobalData“We look forward to our continued partnership with Blackstone to support rising energy needs in North America.”
Blackstone Energy Transition Partners recently invested in the Wolf Summit Energy Centre, a 600MW greenfield CCGT facility in Harrison County, West Virginia, and the Hill Top Energy Centre, a 620MW natural-gas power plant in western Pennsylvania.
It has also backed the Potomac Energy Centre, a 774MW natural-gas plant in Loudoun County, Virginia.
Collectively, these investments contribute approximately 2GW to the country’s power generation capacity.
Blackstone senior managing director Bilal Khan said: “Blackstone is proud to invest in new energy supply generation needed to fuel economic growth and support rising power demand in the region.
“We are excited to have backed this critical project, which has created hundreds of jobs and will help deliver more affordable, efficient and reliable electricity for Louisiana.”
