Homer City Redevelopment Announces Agreement in Principle for EQT Corporation to Supply Nation’s Largest Natural Gas-Powered Data Center Campus

Represents One of the Largest Single-Site Natural Gas Transactions in North American History

Advances Homer City’s Goal of Providing Pennsylvania-Driven Solutions to Meet the State’s AI and Energy Needs

INDIANA COUNTY, Pa.--(BUSINESS WIRE)-- Homer City Redevelopment (“HCR”) today announced an agreement in principle (the “Agreement”) for EQT Corporation (NYSE: EQT) (“EQT”) to serve as HCR’s exclusive partner to source and supply the natural gas needed to power the 4.4 gigawatt natural gas facility that will serve the Homer City Energy Campus — a 3,200 acre AI and high-performance computing (HPC) data center campus currently under construction and slated to begin producing power in 2027. The project is designed to meet the needs of the innovative technology companies shaping America’s digital future.

This partnership marks a major milestone in the execution of HCR’s plan for the evolution of the former Homer City Generating Station, first announced on April 2, 2025. The project will transform the site that was previously home to Pennsylvania’s largest coal-burning power plant into a next-generation power and data infrastructure hub, combining high-performance AI computing with a fully integrated, on-site natural gas generating station.

Under the Agreement, HCR will have an unparalleled level of gas supply redundancy for the site with the ability to source gas from both the Texas Eastern Transmission and Eastern Gas Transmission and Storage pipeline systems. HCR and EQT will unlock natural gas supply of up to 665,000 MMBTUs per day. The transaction is one of the largest single-site natural gas purchases in North American history.

“EQT is synonymous with Pennsylvania energy and American innovation, and we are thrilled to have them as a partner for this project,” said Corey Hessen, CEO of Homer City Redevelopment. “This agreement ensures long-term energy security for the data center campus, while demonstrating our commitment to powering the future with Pennsylvania gas, Pennsylvania power and ultimately, Pennsylvania data centers.”

“This project is a win for Pennsylvania and for America. We are proud to be named the exclusive partner to provide the energy needed to power the Homer City Energy Campus and the future of AI,” said Toby Z. Rice, President and CEO of EQT Corporation.

The project’s financing is led by Knighthead Capital Management, LLC (“Knighthead”)¹. Knighthead has had significant equity positions in Homer City for nearly eight years.

Andrew Shannahan, a Partner at project sponsor Knighthead, and a member of HCR’s parent company’s Board of Directors, said, “The Homer City project sits at a unique intersection of next-generation computing and traditional energy expertise. The partnership with EQT represents another key component as we continue to move rapidly toward construction and ultimately operation of the power station.

Earlier today, GE Vernova also announced that it has finalized a full order to provide seven of its high efficiency 7HA.02 natural gas turbines to the Homer City Energy Campus, with the first deliveries expected to begin in 2026. Kiewit Power Constructors Co. – one of the premier engineering, procurement and construction (EPC) contractors in the country – is leading construction.

To learn more about the future Homer City Energy Campus, please visit: www.homercityredevelopment.com.

About Homer City Redevelopment
Homer City Redevelopment is focused on transforming legacy energy infrastructure into state-of-the-art digital and energy assets. Located in Indiana County, PA, the Homer City Energy Campus will be the largest of its kind in North America upon completion.

About EQT Corporation
EQT Corporation is a premier, vertically integrated American natural gas company with production and midstream operations focused in the Appalachian Basin. We are dedicated to responsibly developing our world-class asset base and being the operator of choice for our stakeholders. By leveraging a culture that prioritizes operational efficiency, technology and sustainability, we seek to continuously improve the way we produce environmentally responsible, reliable and low-cost energy. We have a longstanding commitment to the safety of our employees, contractors and communities and to the reduction of our overall environmental footprint. Our values are evident in the way we operate and in how we interact each day — trust, teamwork, heart and evolution are at the center of all we do.

___________________________ 1 On behalf of certain entities Knighthead manages and advises.

 

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Homer City Redevelopment



Media

Longacre Square Partners, HomerCity@longacresquare.com



EQT Corporation

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Cameron Horwitz

Managing Director, Investor Relations and Strategy

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412.445.8454



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Amy Rogers

Head of Strategic Communications

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410.703.6968

Source: Homer City Redevelopment