Strategic Value Partners said it reached an agreement to acquire the remaining equity interests in Birdsboro Power, increasing its ownership of the Pennsylvania natural gas-fired power generation facility.
Birdsboro Power operates a combined-cycle natural gas power plant in Berks County, Pennsylvania. The facility has generation capacity of about 488 megawatts and supplies electricity to the PJM Interconnection market.
The transaction will result in Strategic Value Partners obtaining full ownership of the asset.
The company said the acquisition aligns with its strategy of investing in infrastructure and power generation assets with stable long-term demand fundamentals.
The deal is subject to customary closing conditions. Financial terms were not disclosed.