Strategic Value Partners, the global alternative investment firm, and NewEdge Power, a utility-scale and distributed power development platform, announced a partnership in which funds managed by SVP will make an initial capital commitment to establish a joint venture focused on utility-scale power and supporting the expansion of NewEdge's platform. Terms of the transaction were not disclosed.

A New Partnership for Utility-Scale Power

The joint venture will launch with a seed portfolio targeting up to 1.2 GW of capacity in PJM, the grid operator serving 13 states and Washington, D.C. SVP's commitment will enable NewEdge to advance this portfolio and pursue additional opportunities in PJM and other U.S. markets.

The partnership builds on NewEdge's existing backing from SJF Ventures, which led its Series A financing in 2025, and from its initial investment partners, Segue Sustainable Infrastructure and North Sky Capital.

Pipeline and Market Context

NewEdge's pipeline includes utility-scale battery energy storage and solar projects, as well as distributed power projects, across several U.S. power markets. The announcement comes as PJM and other U.S. power markets face growing demand for electricity, with manufacturing, electrification, and data center growth increasing the need for new capacity that can come online quickly. According to the companies, battery storage is one resource that can help meet that need on a tight timeline and cost-effectively.

"For decades, power availability was taken for granted as demand stayed flat. Today, with unprecedented demand growth driven by data centers and the reshoring of manufacturing, we're seeing a need for new resources to serve the market.

Battery storage has emerged as a critical part of the solution that can be delivered quickly to meet this need," said Joe Nano, Chief Executive Officer and Co-Founder of NewEdge.

Nano added that SVP brings the scale, expertise and conviction to build on the platform's track record and expand its capabilities during what he described as a window of opportunity.

Mike Ungari, Global Head of Real Estate at SVP, said power markets are being reshaped by rising electricity demand and the need to bring new capacity online at pace.

He noted that in markets like PJM, securing well-located sites and a viable path to the grid is a significant part of the growing opportunity, and that the partnership combines NewEdge's expertise in identifying and advancing those sites with SVP's capabilities in investing across power and infrastructure.

Roles, Funding and Board Changes

Under the joint venture structure, NewEdge will lead development, with SVP funding select projects as they progress. SVP's platform investment in NewEdge will also be funded over the investment period to support and expand the company's development team and capabilities.

"We've built NewEdge around securing high-quality sites and interconnection positions in the markets where new capacity is needed most," said Steve Barna, Chief Development Officer and Co-Founder of NewEdge. "With SVP's capital, we believe we can move our seed portfolio and pipeline through development at the pace this market requires."

As part of the transaction, Andrew Shore, Managing Director on SVP's North American Investment Team, will join NewEdge's Board of Directors as an observer. He will sit alongside Joe Nano and Steve Barna of NewEdge, Dave Kirkpatrick and Alan Kelley of SJF Ventures, and independent director Brent Beerley.

Board Experience and Advisors

The company said the board brings deep power-sector experience. SJF Ventures' clean energy investments include Terabase Energy, Nextpower (NASDAQ: NXT, formerly Nextracker), Community Energy (sold to AES) and groSolar (sold to EDF), while Beerley has had two renewable company exits, to Iberdrola Renewables and AES.

Several advisory roles were disclosed in connection with the deal. Ackman-Ziff Real Estate Group LLC served as financial advisor to NewEdge, and Verdonck Partners LLC served as buy-side advisor to SVP. Amis, Patel & Brewer, LLP served as transaction counsel to NewEdge, while Gibson, Dunn & Crutcher LLP served as transaction counsel to SVP.

About the Companies

NewEdge Power is a utility-scale and distributed power development platform active across several key U.S. power markets, developing utility-scale battery storage, utility-scale solar and distributed power projects.

Its executive team has collectively worked on and delivered more than 48 GW of power projects across solar, battery storage, wind, geothermal, hydroelectric, and conventional power.

SVP is a global alternative investment firm investing across opportunistic strategies ranging from performing and event-driven debt to hybrid solutions, hard assets including infrastructure, real estate, power, and airplanes, and special situations private equity.

The firm has approximately USD 22 billion in assets under management and, since its inception in 2001 by Victor Khosla, has invested more than USD 60 billion of capital. SVP has over 200 employees, including more than 100 investment professionals, across its main offices in Greenwich, New York and London, with presences in Tokyo and Dubai.

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