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SVP Acquires Stake in Birdsboro Power Facility

Birdsboro Power, a crucial energy provider in Pennsylvania.

News Summary

Strategic Value Partners, LLC (SVP) has acquired a stake in the Birdsboro Power plant in Pennsylvania. This 485-megawatt facility utilizes advanced technology to provide reliable energy. The acquisition, part of SVP’s strategy to diversify its energy portfolio, underscores confidence in sustainable energy and aims to optimize operational performance. Collaborating with EverGen Power, SVP seeks to enhance energy capabilities and cater to rising demand in the northeastern U.S., while promoting local economic development.

Pennsylvania – Strategic Value Partners, LLC (SVP), a global alternative investment firm managing approximately $22 billion in assets, announced on May 2 that it has acquired a stake in Birdsboro Power, a 485-megawatt natural gas-fired combined-cycle generation facility located in Berks County, Pennsylvania. The acquisition is part of SVP’s strategy to expand its energy portfolio and enhance its investments in the power sector.

Birdsboro Power commenced its commercial operations in 2019 and features a highly efficient combined-cycle gas turbine (CCGT) system utilizing GE’s advanced 7HA.02 technology. This facility is recognized as a crucial baseload asset for Pennsylvania, ensuring a consistent and cost-effective power supply for consumers. Additionally, it is integrated into the PJM Interconnection, a regional transmission organization that coordinates wholesale electricity movement across 13 states and the District of Columbia.

The partnership that led to this acquisition was established in 2024 with EverGen Power, a specialized firm in power generation investment and asset management. The collaboration aims to identify, acquire, and manage power assets across North America, with Birdsboro Power being a principal asset under this umbrella.

The investment reflects SVP’s confidence in the facility’s environmentally advantageous features and its capability to meet significant forecasted demand growth for energy. With this acquisition, SVP aims to optimize the operational and commercial performance of Birdsboro Power. David Geenberg, Head of North American Corporate Investments at SVP, emphasized the efficiency of the transaction and how the existing strong relationship with EverGen’s leadership team allowed for a swift and certain deal.

Since 2001, SVP has deployed approximately $3 billion in power assets across various real asset sectors, highlighting its extensive experience and commitment to the energy market. The firm has held a majority ownership stake in GenOn Holdings, Inc. since 2018, further solidifying its investment credentials in the power industry.

The EverGen leadership team boasts over 75 years of combined expertise in the power generation sector. This deep well of knowledge is expected to facilitate strong physical and operational performance at Birdsboro Power. The efficiency of the technology employed at the facility positions it to respond adeptly to the evolving energy landscape, responding to both environmental considerations and consumer energy needs.

The growing demand for reliable energy sources in the northeastern United States makes the investment in Birdsboro Power a strategic move. The facility’s modern technology not only aids in producing sustainable energy but also contributes to local economic development through job creation and support for the regional power grid.

This acquisition aligns with broader trends in the energy sector, where there is an increased emphasis on leveraging advanced technology to improve efficiency and reduce environmental impact. SVP’s proactive approach to investing in capabilities like those at Birdsboro Power reflects a commitment to sustainability while also ensuring reliable electricity supply for consumers in Pennsylvania and beyond.

As SVP integrates and optimizes its new asset, stakeholders will closely monitor the operational improvements and the impact on local energy markets, with the overall goal of enhancing consumer experience and contributing to a greener future for energy production.