PPL joint venture Announces first Pennsylvania data center deal

Two gigawatts of new generation capacity are headed to Luzerne County, marking the first major move in a high-stakes partnership designed to fuel Pennsylvania’s rapidly expanding data center industry. PPL Corporation has announced its first official agreement through Invitium Energy, a joint venture in which PPL holds a 51% stake alongside New York-based Blackstone Infrastructure.

A multi-stage rollout for Salem Township

The energy mix planned for the QTS project is a blend of traditional and emerging technologies. The proposed portfolio includes two combined-cycle natural gas plants, which will be supplemented by fuel cells and battery storage. While the specific balance of fuel cells and battery storage is still being finalized, the timeline for these assets provides a clear window into the state’s energy transition.

The fuel cells and battery storage components could be operational as early as 2029. The larger combined-cycle natural gas units are expected to follow later, with expected online dates in 2032 and 2033.

Vince Sorgi, PPL Corporation President and CEO, addressed the significance of the deal during a webcast for the company’s 2026 third-quarter earnings. He noted that the agreement represents a milestone for Invitium and serves as a way to convert customer demand into actual generation projects.

“Just as importantly, these projects help meet rising energy demand while strengthening the PJM grid and supporting long-term energy affordability.”

The scale of Pennsylvania’s power demand

The company’s data center pipeline has grown for 11 consecutive quarters, reaching approximately 35.3 GW in advanced planning stages. To put that number in perspective, the pipeline includes 11.4 GW under signed electric service agreements and 8.5 GW currently under construction.

PPL Data Center Pipeline Metric	Capacity (GW)
Total in Advanced Planning	35.3
Under Signed Electric Service Agreements	11.4
Currently Under Construction	8.5

Financial momentum and market reaction

The announcement coincided with a strong third-quarter financial report for PPL Corporation. The company reported GAAP earnings of $367 million, or $0.49 per share, an increase from the $318 million, or $0.43 per share, reported in the third quarter of 2025. When looking at ongoing operations (non-GAAP), earnings rose to $411 million, or $0.54 per share, compared to $355 million, or $0.48 per share a year ago.

The company is increasing its annual earnings per share (EPS) growth target to a range of 7% to 9% through at least 2030, up from its previous projection of 6% to 8%. Following the announcement, shares of PPL Corporation (NYSE: PPL) saw a slight uptick, trading at $36.23.

With Invitium in active discussions with “multiple counterparts” for additional generation projects across Pennsylvania, the focus for PPL remains on execution.