Equinor agreed to acquire an 87.71% stake in the Lackawanna Energy Center on August 17, 2026. The company will pay $940 million to Global Infrastructure Partners, a subsidiary of BlackRock. The Pennsylvania-based facility has a generation capacity of 1,483 MW.
The acquisition expands Equinor's footprint in the PJM power market. This grid serves approximately 70 million people as the largest power market in the United States.
Equinor intends to capitalize on surging electricity demand from data centers and industrial activity. The plant leverages Equinor’s existing natural gas production assets in the Appalachian Basin.
Invenergy will retain a minority ownership stake and continue to operate the facility. The companies will explore further collaboration opportunities within the PJM market.