At a glance
- Net income fell 2%, partly on hedging charges tied to the Rotork acquisition.
- LS Power closed a $6 billion private equity fund and earmarked $1.7 billion for Constellation.
- Blackstone closed Energy Transition Partners V at $8.7 billion, 50% above its prior fund.
ABB's US orders rose 82% on utility and data-center grid demand, while group orders reached a record $12 billion. Net income fell 2%, partly on hedging charges tied to the Rotork acquisition.
LS Power closed a $6 billion private equity fund and earmarked $1.7 billion for Constellation. LS Power COO Darpan Kapadia said demand growth is real and supply will take time to catch up.
Blackstone closed Energy Transition Partners V at $8.7 billion, 50% above its prior fund. The oversubscribed vehicle began investing in June. It has funded three platform companies and acquired three energy-efficiency and resiliency businesses.
Central Georgia EMC plans a 50-MW home battery fleet with Base Power, its first utility partnership outside Texas, as data centers seek grid access.
In Virginia, Governor Spanberger proposed a six-year rate freeze to secure approval for the Dominion-NextEra merger. She also asked regulators to raise Dominion's debt share to 60% from 48% to lower its allowed rate of return.
Blackstone's $8.7bn close tops LS Power's $6bn energy fund
Blackstone's new vehicle is 50% larger than its prior fund
- Blackstone Energy Transition Partners V$8.7BN
- LS Power private equity fund$6BN
- Blackstone prior fund$5.8BN
Show as table
| Item | Value ($bn) |
|---|---|
| Blackstone Energy Transition Partners V | $8.7BN |
| LS Power private equity fund | $6BN |
| Blackstone prior fund | $5.8BN |
Reported by The Wrap desk from newsroom data pack. Published . Updated Oct 28, 2026 · 2:57 p.m. ET. Corrections