Houlihan Lokey Advises on the Sale of Potomac Energy Center
Potomac Energy Center, a 774 MW natural gas-fired combined cycle power plant in Loudoun County, Virginia, has been acquired by Blackstone
Sellside Advisor
Houlihan Lokey is pleased to announce the sale of 100% interest in Potomac Energy Center (Potomac), a 774 MW natural gas-fired combined cycle power plant in northern Virginia, to Blackstone Energy Transition Partners (Blackstone). The transaction closed on August 5, 2025.
Potomac is a 774 MW natural gas-fired combined cycle facility located in Leesburg, Virginia, within northern Virginia’s “data center alley,” where a quarter of U.S. data center capacity sits. Potomac supplies power to the Dominion Zone of the PJM market.
Blackstone’s acquisition of Potomac represents a milestone transaction for a single natural-gas-fired asset in PJM and spotlights northern Virginia’s growing power needs and the competitive nature of power.
Blackstone Energy Transition Partners is the Blackstone Inc. (NYSE:BX) energy-focused private equity business.
Houlihan Lokey served as the exclusive financial advisor on the sale of Potomac and assisted in marketing, structuring, negotiating, and other financial aspects of the transaction on its behalf. This transaction highlights Houlihan Lokey’s continued success advising the largest market participants in the power industry.
RELATED: Power, Utilities, and Renewables, Mergers & Acquisitions