Equinor ASA

Norwegian company to spend nearly $1 billion on stake in Jessup power plant

Equinor ASA, a Norwegian energy company, plans to acquire an 87.71% stake in the Lackawanna Energy Center in Jessup, Pennsylvania, from a BlackRock subsidiary for $940 million. This acquisition is driven by rapidly growing electricity demands, particularly from data centers in the PJM power market. The region, including Jessup and Archbald, has a significant number of proposed data center projects.