PPL Corporation
PPL and Blackstone Announce Joint Venture for Data Center Power
Summary
On July 15, 2025, PPL Corporation and Blackstone Infrastructure announced the formation of a joint venture to build, own, and operate new gas-fired, combined-cycle generation stations to power data centers under long-term energy services agreements. The joint venture aims to address capacity shortages forecasted by PJM Interconnection and meet the growing demand for power driven by data centers in Pennsylvania. PPL owns 51% of the joint venture, with Blackstone Infrastructure owning 49%. A press release detailing the announcement is furnished as Exhibit 99.1.
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About PPL Corporation
PPL Corporation is a prominent utility holding company with a primary focus on delivering electricity and natural gas services to a wide range of customers. Headquartered in Allentown, Pennsylvania, PPL Corporation operates through several subsidiaries, providing electricity to millions of residential, commercial, and industrial customers in the United States. The corporation's extensive network includes power generation facilities as well as transmission and distribution systems. PPL is actively involved in the energy sector, influencing both regional and national markets. It strives to maintain reliability and sustainability in its energy supply, with an increasing emphasis on incorporating renewable energy sources and improving grid resilience. The company's operations contribute significantly to the utility industry, impacting economic growth and energy security. Moreover, PPL Corporation plays a vital role in the energy market by investing in innovative technologies and infrastructure development aimed at enhancing energy efficiency and performance. Through strategic planning and a commitment to customer satisfaction, PPL Corporations continues to be a leading participant in the ever-evolving utilities landscape.
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