Insider: Blackstone Group invests $500 million in Lancium to support its construction of over 5 GW of data centers

Blackstone Inc. has invested more than $500 million in Lancium, which is building more than 5 gigawatts of data centers in West Texas aimed at meeting the growing energy needs of artificial intelligence applications, according to people familiar with the matter. The company completed equity transactions in recent weeks to support Lancium's plans to build five facilities in parts of the state rich in wind and solar resources, the people said. Blackstone's investment covers Lancium's capital needs to put the facilities online around 2028. The company said it is considering creative solutions to tap zero-carbon resources, including possible on-site solar and battery storage facilities. In Texas, 1 gigawatt is typically enough to power 200,000 homes. Goldman Sachs Group Inc. advised Lancium on the deal, one of the people said. Representatives for Blackstone, Lancium and Goldman declined to comment. (Bloomberg)