The Greenwich-based firm’s managed funds have signed a definitive agreement to purchase the remaining equity interests in Birdsboro Power from Sojitz Birdsboro LLC and Tokyo Gas America Ltd., giving SVP full ownership of the 485-megawatt combined-cycle facility.

SVP Funds first acquired a one-third stake in Birdsboro in May 2025 and have served as Managing Member, operating the plant alongside EverGen Power, a power generation acquisition and asset management platform formed in 2024 to back SVP’s investments across North America.

The deal ends the involvement of the two Japanese investors and consolidates the asset under SVP, which oversees approximately $22 billion in assets.

David Geenberg, head of North American corporate investments at SVP, described Birdsboro as one of the most efficient modern gas generators in the PJM market, citing growing regional demand from electrification and data center load.

EverGen Managing Partner Ari Barz said the team has focused on enhancing the facility’s commercial and operational performance and expects to build on that progress under full SVP ownership.

Commissioned in 2019, Birdsboro is built around GE’s advanced 7HA.02 gas turbine and posts a top-decile heat rate of about 6,300 Btu.

Located in southeastern Pennsylvania, the facility provides dispatchable power to the PJM grid at a time when electrification and data center expansion are pushing demand higher.

The value of the deal was not made public.

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

SVP and EverGen received advice from CIBC and Davis Polk & Wardwell.