Strategic Value Partners, LLC (SVP), a prominent global alternative investment firm managing approximately $22 billion in assets, announced on May 2, the successful acquisition of a stake in Birdsboro Power, a substantial 485-megawatt natural gas-fired combined-cycle generation facility situated in Berks County, Pennsylvania.

The state-of-the-art Birdsboro Power plant commenced commercial operations in 2019 and boasts a highly efficient combined-cycle gas turbine (CCGT) system utilizing GE's advanced 7HA.02 technology. This facility plays a crucial role as a baseload asset, ensuring a consistent and cost-effective power supply to consumers within Pennsylvania and the broader PJM Interconnection regional transmission organization, which coordinates the movement of wholesale electricity in all or parts of 13 states and the District of Columbia.

This strategic investment by the SVP Funds in Birdsboro Power is a direct result of the partnership established in 2024 between SVP and EverGen Power (EverGen), a specialized power generation investment and asset management firm. The collaboration aims to identify, acquire, and effectively manage power assets across North America, leveraging the combined expertise of both entities.

Ari Barz, Co-CEO of EverGen, expressed enthusiasm about the partnership, stating, "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."

David Geenberg, Head of North American Corporate Investments at SVP, highlighted the efficiency and trust that underpinned the transaction. "Given EverGen's and SVP's industry expertise, we were able to move quickly and provide deal certainty while executing on a bilateral basis," he commented. He further emphasized the existing strong relationship with the EverGen leadership team, noting, "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 the potential to unlock further efficiencies with the benefit of renewed engagement and operational oversight."

SVP brings significant experience in investing across various real asset sectors, having deployed approximately $3 billion in power assets since 2001. Their portfolio includes a majority ownership stake in GenOn Holdings, Inc. (GenOn) since 2018, alongside other substantial investments in energy assets and companies.

The EverGen team, led by industry veterans Ari Barz, Dave Freysinger, and Stephen Schaefer, collectively brings over 75 years of deep expertise within the power generation sector.