Strategic Value Partners and NewEdge Power Launch Joint Venture for Utility-Scale Battery Storage
News related to:NewEdge Power · 2 min read
GREENWICH, Conn. and NEW YORK, Oct. 29, 2026 /CourierPR/ -- Strategic Value Partners (SVP) and NewEdge Power have joined forces to launch a joint venture focused on utility-scale battery storage and solar projects. The partnership aims to tap into the growing demand for electricity in the United States, particularly in PJM, the grid operator serving 13 states and Washington, D.C.
The joint venture will kick off with a seed portfolio targeting up to 1.2 gigawatts (GW) of capacity in PJM. This move is part of a broader strategy to address the increasing need for new power capacity, driven by manufacturing, electrification, and data center growth. Battery storage is seen as a critical resource that can be deployed quickly and cost-effectively to meet this demand.
Joe Nano, CEO and co-founder of NewEdge Power, emphasized the importance of battery storage in the current market landscape.
SVP, a global alternative investment firm, is committing capital to support the expansion of NewEdge's platform. 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. Terms of the transaction were not disclosed.
NewEdge Power, a utility-scale and distributed power development platform, has a pipeline of projects across several U.S. power markets. The company has successfully developed more than 48 GW of power projects across solar, battery storage, wind, geothermal, hydroelectric, and conventional power. The joint venture will leverage NewEdge's expertise in identifying and advancing high-quality sites and interconnection positions.
Mike Ungari, Global Head of Real Estate at SVP, highlighted the strategic importance of the partnership.
As part of the transaction, Andrew Shore, Managing Director, North American Investment Team at SVP, will join NewEdge's Board of Directors as an observer. The board brings deep power-sector experience, including SJF Ventures' clean energy investments in Terabase Energy, Nextpower (NASDAQ: NXT, formerly Nextracker), Community Energy (sold to AES), and groSolar (sold to EDF).
SVP, established by Victor Khosla, has a strong track record in investing across power and infrastructure. The firm has approximately $22 billion in assets under management and has invested more than $60 billion of capital since its inception in 2001. With SVP's capital, NewEdge Power aims to move its seed portfolio and pipeline through development at the pace required by the market.
The partnership underscores the growing importance of battery storage in the U.S. power sector and the willingness of established investment firms to support innovative projects in this space. As the market continues to evolve, the joint venture between SVP and NewEdge Power is poised to play a significant role in meeting the increasing demand for reliable and sustainable power solutions.