GREENWICH, Conn. and BIRDSBORO, Pa., May 8, 2026  /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 signed a definitive agreement to acquire the remaining equity interests in Birdsboro Power, LLC ("Birdsboro"), a 485-megawatt natural gas-fired combined-cycle generation facility located in Birdsboro, Pennsylvania. Financial terms of the transaction were not disclosed.

SVP Funds acquired an initial one-third equity interest in Birdsboro in May 2025 and have served as Managing Member of the facility since that time, operating Birdsboro alongside EverGen Power ("EverGen"), a power generation acquisition and asset management firm established in 2024 to support SVP with power generation investments across North America. Under the new agreement, SVP Funds will acquire the remaining equity interests from Sojitz Birdsboro LLC and Tokyo Gas America Ltd. bringing the asset under full SVP Fund ownership.

"Birdsboro is one of the most efficient modern gas generators in PJM, located in a region that continues to see growing demand from electrification and data center load," said David Geenberg, Head of North American Corporate Investments at SVP. "Having served as Managing Member since our initial investment a year ago, we are pleased to build on our position and move to full ownership of the asset."

"Our team has worked alongside SVP at Birdsboro since their initial investment, focused on enhancing the commercial and operational performance of the facility and extending its strong operating track record," said Ari Barz, Managing Partner of EverGen Power. "With full SVP ownership, we look forward to building on that progress and continuing to drive value at one of the most capable assets in the region."

Commissioned in 2019, Birdsboro is a modern combined-cycle facility built around GE's advanced 7HA.02 gas turbine, with a top-decile heat rate of approximately 6,300 Btu/kWh. The facility is located in southeastern Pennsylvania and provides reliable, dispatchable generation to the PJM grid.

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 $57 billion of capital. 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), New York and London, and presences in Tokyo and Dubai. Learn more at www.svpglobal.com.

About EverGen Power
EverGen is a platform formed and backed by SVP Funds, created to acquire and operate critical power infrastructure that supports the delivery of reliable and safe energy, addressing the increasing demand for power driven by electrification. Its leadership prides itself on its track record of excellence, having worked closely together for almost a decade and with a combined 75 years of experience in the power generation sector. Learn more at www.evergenpwr.com 

Advisors
Sojitz Birdsboro LLC was advised by PEI Global Partners and Mintz, Levin, Cohn, Ferris, Glovsky & Popeo, P.C.

SVP and EverGen were advised by CIBC and Davis Polk & Wardwell LLP.

Media Contact

Strategic Value Partners
media@svpglobal.com

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SOURCE Strategic Value Partners, LLC