PPL rises after partnership with Blackstone to build natural gas stations

PPL

15/07/2025 20:27

** Shares of electric and gas utility PPL PPL.N rise 1.7% to $35.35

** PPL and Blackstone Infrastructure say they will form a joint venture to build natural gas generation stations in Pennsylvania, aimed at providing power to data centers under long-term energy services agreements

** Joint venture - in which PPL holds a 51% stake and Blackstone owns the remaining 49% - aims to secure long-term energy service agreements with major data center companies

** The joint venture seeks to develop front-of-the-meter generation that sits atop the Marcellus and Utica shale basins; can quickly connect to significant, available gas pipeline capacity; and targets areas of significant data center interest, the companies said

** Including session's moves, PPL shares up 9% YTD

(Reporting by Sumit Saha in Bengaluru)

((Sumit.Saha@thomsonreuters.com;))