Strategic Value Partners Acquires Stake in Birdsboro Power

Whats Happening:

Strategic Value Partners (SVP), a global alternative investment fund with $22 billion in assets under management, has acquired a stake in Birdsboro Power, a 485-megawatt natural gas-fired power plant in Pennsylvania. This acquisition is part of SVP's strategic partnership with EverGen Power, formed in 2024 to acquire and manage power assets across North America.

Key Moves:

• SVP's managed funds acquire stake in Birdsboro Power, a 485-megawatt natural gas plant in Pennsylvania

• Acquisition is part of SVP's 2024 strategic partnership with EverGen Power

• SVP aims to optimize operational and commercial performance of the facility

By The Numbers:

• SVP manages approximately $22 billion in assets

• Birdsboro Power is a 485-megawatt facility

• SVP has invested approximately $3 billion in power assets since 2001

Key Quotes:

• "We are excited to partner with SVP in its investment in Birdsboro Power, which is an environmentally advantaged plant with efficient new turbine technology," - Ari Barz, 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," - David Geenberg, Head of North American Corporate Investments at SVP

• "We believe that Birdsboro Power, similar to GenOn, has potential to unlock further efficiencies with the benefit of renewed engagement and operational oversight."

Bottom Line:

SVP's acquisition of a stake in Birdsboro Power demonstrates the fund's continued focus on power assets and its strategy of partnering with experienced operators like EverGen. This investment aligns with SVP's track record in the energy sector and its aim to create value through operational improvements and strategic management.

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