PPL and Blackstone Form Joint Venture to Power AI Data Centers in Pennsylvania

PPL Corporation (NYSE:PPL) and Blackstone Infrastructure (NYSE:BX) have partnered to launch a joint venture aimed at building natural gas-powered generation stations specifically designed to support the growing energy demands of data centers across Pennsylvania.

Strategic Push to Support AI Infrastructure Announced at the Pennsylvania Energy and Innovation Summit, the venture will:

Focus on dispatchable energy generation to serve long-term needs of data centers

Operate under long-term energy service agreements

Capitalize on the growing AI boom, which has triggered soaring demand for reliable, high-capacity power sources

PPL will hold a 51% stake, with Blackstone Infrastructure holding 49%. While no customer contracts have been finalized yet, the venture has already:

Secured multiple land parcels

Engaged with natural gas pipeline firms and turbine suppliers

PPL CEO Vincent Sorgi stated, "We’re excited to leverage the powerful expertise that PPL and Blackstone Infrastructure possess to bring much-needed new dispatchable generation online."

Broader Context: $90B in AI and Energy Investment The initiative is part of a larger $90 billion wave of investment announced during the summit, backed by top technology, energy, and government leaders. President Donald Trump was also expected to attend the event, underscoring the national significance of AI infrastructure expansion.

Financial Lens PPL’s long-term infrastructure commitment could impact both capital expenditure and future earnings stability. For investors tracking capital projects and utility earnings quality, the Balance Sheet Statements API offers detailed insights into assets, liabilities, and funding strategies.