Strategic Value Partners Announces Agreement to Acquire 32% Equity Stake in Carroll County Energy Holdings

GREENWICH, Conn. and CARROLLTON, Ohio, Oct. 2, 2025 /PRNewswire/ -- Strategic Value Partners, LLC (together with its affiliates, "SVP"), a global alternative investment firm with approximately $23 billion of assets under management, today announced that its managed funds (the "SVP Funds") have agreed to acquire 32% of the equity interests in Carroll County Energy, a 700-megawatt natural gas-fired combined-cycle generation facility located in Carrollton, Ohio.

Carroll County Energy, which began commercial operations in 2017, features efficient, natural gas-fueled CCGTs utilizing GE 7FA turbines. It is a key provider of reliable, low-cost power to customers in Ohio and the broader PJM Interconnection region.

SVP Funds made this investment in Carroll County Energy as part of the strategic partnership SVP formed in 2024 with EverGen Power ("EverGen"), a power generation acquisition and asset management firm established to support SVP with power generation investments across North America.

"Carroll County Energy is a highly efficient, baseload plant providing reliable power to Ohio and the broader Mid-Atlantic, supporting further electrification in the economy and increasing power demand from data centers in the region," said Ari Barz, Co-CEO of EverGen. "We are excited to add Carroll County Energy to SVP's PJM portfolio, alongside the recent acquisition of a managing stake in Birdsboro Power and the acquisition of Red Oak Power."

"The distinctive combination of EverGen's industry expertise and SVP's ability to navigate complex transactions allowed us to provide speed and certainty to the global consortium of stakeholders in this Ohio plant critical to reliability and datacenter development," said David Geenberg, Head of North American Corporate Investments at SVP. "In partnering with EverGen, we are building a best-in-class portfolio of North American generation assets."

SVP has deep investing expertise across a number of real asset sectors, including power. In addition to holding majority ownership of GenOn Holdings, Inc. ("GenOn") since 2018, SVP Funds have made significant investments in several energy assets and companies. The EverGen team is led by Ari Barz and Dave Freysinger. Together with Senior Advisor Stephen Schaefer, they bring over 75 years of experience in the power generation sector.

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 $23 billion in assets under management and, since inception, has invested more than $55 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) and London, and presences in Tokyo, Los Angeles, and Dubai. Learn more at www.svpglobal.com.

About EverGen Power
EverGen is a platform formed and backed by SVP Funds, created to acquire 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

Contact:

Liz Bruce
Head of Communications and Brand
Strategic Value Partners
[email protected]

SOURCE Strategic Value Partners