Strategic Value Partners Acquires Stake in Birdsboro Power

Posted on May 2nd, 2025 | Filed under Press Releases

GREENWICH, Conn. and BIRDSBORO, Pa., May 2, 2025 /PRNewswire/ — Strategic Value Partners, LLC (together with its affiliates, “SVP”), a global alternative investment firm with approximately $22 billion of assets under management, today announced that its managed funds (the “SVP Funds”) have completed the acquisition of a stake in Birdsboro Power, a 485-megawatt natural gas-fired combined-cycle generation facility located in Berks County, Pennsylvania.

Birdsboro Power, which began commercial operations in 2019, features a highly efficient, natural gas-fueled CCGT utilizing GE’s advanced 7HA.02 gas turbine. It is a key baseload asset providing reliable, low-cost power to customers in Pennsylvania and the broader PJM Interconnection region.

SVP Funds made this investment in Birdsboro Power as part of the strategic partnership SVP formed in 2024 with EverGen Power (“EverGen”), a power generation investment and asset management firm, to acquire and manage power assets across North America.

“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,” said Ari Barz, Co-CEO of EverGen. “We look forward to working with our partners in optimizing the operational and commercial performance of this important facility and continuing to deliver reliable, flexible and efficient power in the region,” added Dave Freysinger, Co-CEO of EverGen.

“Given EverGen’s and SVP’s industry expertise, we were able to move quickly and provide deal certainty while executing on a bilateral basis,” said David Geenberg, Head of North American Corporate Investments at SVP. “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.”

SVP has deep investing expertise across a number of real asset sectors and has invested approximately $3 billion in power assets since 2001. In addition to holding majority ownership of GenOn Holdings, Inc. (“GenOn”) since 2018, SVP Funds have made significant investments in several energy assets and companies. The EverGen team is led by Ari Barz, Dave Freysinger and Stephen Schaefer, and together has over 75 years of experience in the power generation sector.

About SVP
SVP is a global alternative investment firm that focuses on special situations, private equity, opportunistic credit and financing opportunities. The firm uses a combination of sourcing, financial and operational expertise to unlock value in its portfolio companies. Today SVP manages approximately $22 billion in assets under management, and since inception, has invested more than $53 billion of capital, including more than $18 billion in Europe. The firm, established by Victor Khosla in 2001, has over 200 employees, including more than 100 investment professionals, across its main offices in Greenwich (CT) and London, and a presence in Tokyo. Learn more at www.svpglobal.com

Contact:

Liz Bruce
Head of Communications and Brand
Strategic Value Partners
[email protected]

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