Business
Strategic Value Partners Announces Agreement to Acquire Remaining Equity Interests in Birdsboro Power
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.
About this update from Tokyo Gas Co., Ltd.
[{"type":"text","content":"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.","length":597,"tagName":"p"},{"type":"text","content":"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.","length":545,"tagName":"p"},{"type":"text","content":""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."","length":421,"tagName":"p"},{"type":"text","content":""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."","length":430,"tagName":"p"},{"type":"text","content":"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 app...