EXECUTIVE SUMMARY
Strategic Value Partners (SVP) has partnered with NewEdge Power to establish a utility-scale power joint venture targeting up to 1.2 GW of capacity in the PJM market. Announced on October 29, 2026, the partnership includes an initial capital commitment from SVP-managed funds to advance the seed portfolio and expand NewEdge's development platform.
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Global alternative investment firm Strategic Value Partners, L.P. (SVP) has partnered with US power development platform NewEdge Power to establish a joint venture focused on utility-scale power projects, including battery energy storage systems (BESS). Announced on October 29, 2026, the partnership includes an initial capital commitment from funds managed by SVP to establish the venture and support NewEdge's platform expansion. The transaction's financial terms were not disclosed.
The joint venture will launch with a seed portfolio targeting up to 1.2 GW of capacity in the PJM market, which serves 13 US states and Washington, D.C. NewEdge's existing development pipeline includes utility-scale battery storage, solar and distributed power projects across several US electricity markets. SVP's investment will support the advancement of the initial portfolio and the pursuit of additional opportunities within PJM and other US markets.
Under the partnership, NewEdge will lead project development, while SVP will provide funding for selected projects as they progress. SVP's platform investment will also be deployed over the investment period to expand NewEdge's development team and capabilities.
The partnership follows increasing electricity demand across US power markets, driven by manufacturing, electrification and data centre expansion. According to the companies, battery storage can help address the requirement for additional electricity capacity within shorter development timelines.
NewEdge Chief Executive Officer and Co-Founder Joe Nano identified battery storage as an important resource for meeting growing power demand. SVP Global Head of Real Estate Mike Ungari highlighted the importance of securing suitable development sites and viable grid connections in markets such as PJM.
The transaction builds on NewEdge's existing financial backing. SJF Ventures led the company's Series A financing in 2025, while Segue Sustainable Infrastructure and North Sky Capital were its initial investment partners.
As part of the transaction, Andrew Shore, Managing Director in SVP's North American Investment Team, will join NewEdge's Board of Directors as an observer. The board includes NewEdge's Joe Nano and Steve Barna, SJF Ventures representatives Dave Kirkpatrick and Alan Kelley, and independent director Brent Beerley.
Ackman-Ziff Real Estate Group LLC served as NewEdge's financial advisor, while Verdonck Partners LLC advised SVP. Amis, Patel & Brewer, LLP provided transaction counsel to NewEdge, and Gibson, Dunn & Crutcher LLP represented SVP.
The partnership will support NewEdge's existing development portfolio and enable the companies to pursue additional utility-scale power opportunities across US electricity markets.