Strategic Value Partners Fund to Acquire Minority Stake in South Field Energy

GREENWICH, Conn. and COLUMBIANA COUNTY, Ohio, July 28, 2026 /PRNewswire/ -- Strategic Value Partners, LLC (together with its affiliates, "SVP"), a global alternative investment firm, today announced that its managed funds (the "SVP Funds") have agreed to acquire a minority equity interest in South Field Energy ("South Field"), a 1,182-megawatt natural gas-fired combined-cycle generation facility located in Columbiana County, Ohio. Financial terms of the transaction were not disclosed.

South Field began commercial operations in 2021 and features efficient, natural gas-fueled CCGTs utilizing GE 7HA turbines. It is one of the newest gas-fired power plants and most efficient per megawatt-hour operating costs in PJM Interconnection, LLC ("PJM"). South Field is well-positioned to provide reliable generation to meet growing demand.

The investment in South Field was made as part of SVP's partnership with EverGen Power ("EverGen"), a power generation asset management firm established in 2024 to support power generation investments across North America.

"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," said David Geenberg, Head of North American Corporate Investments at SVP. "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."

"South Field is a critical source of baseload power generation in one of the most supply-constrained power markets in the country," said Dave Freysinger, Managing Partner of EverGen Power. "As industry demand continues to grow, South Field will provide reliable, efficient power to this area of PJM."

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 $21 billion in assets under management and, since inception, has invested more than $60 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 manage 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 

Media Contact:
Strategic Value Partners: [email protected]

SOURCE Strategic Value Partners, LLC