A Greenwich-based private equity firm has agreed to acquire almost one-third of a gas-fired energy facility in Ohio.
Strategic Value Partners (SVP), which has $23 billion of assets under management, has announced that its managed funds have agreed to buy 32% of the equity interests in Carroll County Energy, a 700-megawatt natural gas-fired combined-cycle generation facility located in Carrollton, Ohio.
The deal’s financial terms were not disclosed.
Carroll County Energy, which began commercial operations in 2017, runs General Electric’s heavy-duty GE 7FA natural gas-fueled combined-cycle gas turbines that provide electricity to customers in Ohio and 12 other states served by regional transmission organization PJM Interconnection.
SVP Funds is investing in Carroll County Energy through a strategic partnership it formed in 2024 with EverGen Power, a power generation acquisition and asset management firm that supports SVP’s investments across North America.