Strategic Value Partners (SVP), an alternative investment firm managing assets worth approximately $22bn, has announced the acquisition of a stake in Birdsboro Power facility by its managed funds called SVP Funds.
Birdsboro Power is a 485MW natural gas-fired combined-cycle generation facility located in Berks County, Pennsylvania, US. The facility began commercial operations in 2019.
The facility, featuring GE’s advanced 7HA.02 gas turbine, is a key baseload asset in the region, according to SVP.
It provides reliable, low-cost power to customers in Pennsylvania and the broader Pennsylvania-New Jersey-Maryland (PJM) Interconnection area.
This strategic acquisition aligns with SVP’s partnership with EverGen Power, formed in 2024 to acquire and manage power assets across North America.
EverGen co-CEO Ari Barz said: “We are excited to partner with SVP in its investment in Birdsboro Power, which is an environmentally advantaged plant with efficient new turbine technology that is well-positioned to serve its customers in a period of significant forecasted demand growth.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataEverGen co-CEO Dave Freysinger added, “We look forward to working with our partners in optimising the operational and commercial performance of this important facility and continuing to deliver reliable, flexible and efficient power in the region.”
SVP boasts extensive expertise in real asset sectors, with approximately $3bn invested in power assets since 2001.
The firm also holds majority ownership of GenOn since 2018 and has made significant investments in various energy assets and companies.
SVP head of North American corporate investments David Geenberg said: “Given EverGen’s and SVP’s industry expertise, we were able to move quickly and provide deal certainty while executing on a bilateral basis.
“We have worked closely with members of the EverGen leadership team since 2018, including in the underwriting, acquisition and operation of GenOn. We believe that Birdsboro Power, similar to GenOn, has potential to unlock further efficiencies with the benefit of renewed engagement and operational oversight.”
