Strategic Value Partners Expands Portfolio with New Investment
Strategic Value Partners Expands Its Investment Portfolio
Strategic Value Partners, LLC, a leading global alternative investment firm with approximately $22 billion in assets under management, has recently completed an acquisition of a notable stake in Birdsboro Power. This facility represents a significant 485-megawatt natural gas-fired combined-cycle generation operation.
A Remarkable Energy Asset
Birdsboro Power, which commenced its commercial operations in 2019, is recognized for its innovative and efficient natural gas-fueled combined-cycle gas turbine (CCGT) technology, featuring GE's advanced 7HA.02 gas turbine model. This facility not only stands out as a crucial baseload asset, but it also plays an essential role in providing consistent and cost-effective power to customers in the broader PJM Interconnection region.
A Partnership for Growth
The acquisition of Birdsboro Power is part of a strategic partnership formed in 2024 between SVP and EverGen Power, an investment and asset management firm specializing in power generation. This collaboration signifies SVP's commitment to expanding its footprint in the North American energy market.
Expert Opinions on the Investment
Ari Barz, Co-CEO of EverGen, expressed enthusiasm about this collaboration: "We are excited to partner with SVP in its investment in Birdsboro Power, which is an environmentally advantageous plant equipped with cutting-edge turbine technology. It is ideally positioned to meet customer demands during a period of significant forecasted growth. We aim to enhance the operational and commercial performance of this vital facility, ensuring it continues to deliver reliable and flexible power to the region."
Driving Operational Excellence
David Geenberg, Head of North American Corporate Investments at SVP, noted the speed and certainty of the deal execution, saying, "Given the expertise of both EverGen and SVP, we were able to swiftly maneuver and provide certainty in the deal. We have collaborated closely with EverGen's leadership since 2018, ensuring a thorough understanding of underwriting, acquisition, and operational processes." Geenberg firmly believes that Birdsboro Power holds the potential to achieve further efficiencies with renewed engagement and operational oversight.
SVP's Proven Track Record
Strategic Value Partners has a robust history in investing across various real asset sectors, having allocated around $3 billion in power assets since its inception. In addition to its majority ownership in GenOn Holdings, Inc. since 2018, SVP Funds have made significant investments in a variety of energy assets and companies across North America.
About Strategic Value Partners
Established in 2001 by Victor Khosla, SVP is an alternative investment firm dedicated to special situations, private equity, and opportunistic credit and financing opportunities. Leveraging a unique blend of sourcing, financial, and operational expertise, SVP aims to unlock value within its portfolio of companies. The firm currently manages around $22 billion in assets, with total investments exceeding $53 billion, including more than $18 billion in Europe. SVP employs over 200 professionals, including more than 100 investment specialists, operating across its main offices in Greenwich and London, along with a presence in Tokyo.
Frequently Asked Questions
What is the significance of SVP's investment in Birdsboro Power?
SVP's investment in Birdsboro Power enhances its portfolio in the energy sector, allowing for growth and reliable power supply in the region.
What technology does Birdsboro Power utilize?
Birdsboro Power uses GE's advanced 7HA.02 gas turbine technology, making it a highly efficient natural gas-fired combined-cycle generation facility.
How does the partnership with EverGen benefit SVP?
The partnership allows SVP to leverage EverGen's expertise in managing power generation assets, promoting operational excellence and growth.
When did Birdsboro Power begin operations?
Birdsboro Power commenced commercial operations in 2019 and has since played a crucial role in providing low-cost power.
What is the role of David Geenberg in this acquisition?
David Geenberg leads the North American Corporate Investments at SVP, overseeing the strategic investment process and ensuring smooth execution of deals.
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