Blackstone invests $5.34bn in Williams' behind‑the‑meter natural gas power projects for the data center sector

Type: Investment · Technology: Gas · Country: United States · Capacity: 2.6 GW · Value: $5.34B · Announced: 2026-07-15

Blackstone committed $5.34bn to acquire a 49% non‑controlling equity stake in five behind‑the‑meter natural gas projects owned by Williams. The projects—Socrates, Apollo, Aquila, Socrates the Younger and Neo—total roughly 2.6 GW of capacity, with individual plants ranging from 200 MW in Ohio to 682 MW slated for 2028. Williams will build the gas plants and associated pipeline infrastructure, delivering power directly to data center customers such as Meta in New Albany, Ohio. The investment expands Blackstone’s data‑center portfolio and gives Williams capital to accelerate its Power Innovation platform, which targets a 6 GW+ backlog. The agreement includes a buy‑out right for Williams between years seven and fourteen, allowing it to repurchase Blackstone’s stake at the outstanding investment balance.

Counterparties

Source article

📈 The Sherpa Signal — one notable infrastructure deal a day.

📘 Sherpa Guides — practitioner guides to developing, financing and acquiring infrastructure.