Strategic Value Partners has agreed to acquire a minority equity interest in South Field Energy, a 1,182-megawatt natural gas-fired combined-cycle generation facility in Columbiana County, Ohio. Financial terms were not disclosed.
South Field began commercial operations in 2021. It features GE 7HA turbines and is one of the newest and most efficient gas-fired power plants in the PJM Interconnection. The investment was made as part of SVP’s partnership with EverGen Power, a power generation asset management firm established in 2024.
SVP manages approximately $21 billion in assets and has invested more than $60 billion of capital since its founding in 2001 by Victor Khosla.
KEY QUOTES:
“We continue to see an attractive opportunity set in power generation, driven by structural growth in data center demand and the need for consolidation and new ownership strategies. We are excited to join South Field’s partnership of Asian and U.S. shareholders to help maximize the value of this critical asset in a high-growth market.”
David Geenberg, Head of North American Corporate Investments, Strategic Value Partners
“South Field is a critical source of baseload power generation in one of the most supply-constrained power markets in the country. As industry demand continues to grow, South Field will provide reliable, efficient power to this area of PJM.”
Dave Freysinger, Managing Partner, EverGen Power
