Key Takeaways
- • Strategic Value Partners, L.P. (SVP) led an undisclosed funding round in NewEdge Power, a Greenwich, Connecticut-based utility-scale and distributed power development platform.
- • The round also included participation from SJF Ventures, Segue Sustainable Infrastructure, and North Sky Capital.
- • NewEdge Power plans to use the proceeds to advance a seed portfolio targeting up to 1.2 GW of capacity in PJM, pursue opportunities across U.S. power markets, and expand its development team and platform capabilities.
- • The company develops utility-scale battery storage, utility-scale solar, and distributed power projects, led by CEO Joe Nano and Chief Development Officer Steve Barna.
Summary
NewEdge Power, a Greenwich, Connecticut-based provider of a utility-scale and distributed power development platform, has closed a new funding round, according to FinSMEs. The amount raised was not disclosed.
The round was led by Strategic Value Partners, L.P. (SVP), with participation from SJF Ventures, Segue Sustainable Infrastructure, and North Sky Capital. The investor group signals institutional and infrastructure-focused backing for the company's development pipeline.
The company intends to deploy the capital in three areas: advancing its seed portfolio, which targets up to 1.2 GW of capacity in PJM; pursuing additional opportunities across U.S. power markets; and expanding its development team and platform capabilities. The company's development activity spans utility-scale battery storage, utility-scale solar, and distributed power projects, aimed at meeting growing electricity demand.
The company is led by CEO Joe Nano and Chief Development Officer Steve Barna. NewEdge Power operates across key U.S. power markets, with a project pipeline targeting PJM and other regions.
The round was led by Strategic Value Partners, L.P. (SVP), with participation from SJF Ventures, Segue Sustainable Infrastructure, and North Sky Capital. The investor group signals institutional and infrastructure-focused backing for the company's development pipeline.
The company intends to deploy the capital in three areas: advancing its seed portfolio, which targets up to 1.2 GW of capacity in PJM; pursuing additional opportunities across U.S. power markets; and expanding its development team and platform capabilities. The company's development activity spans utility-scale battery storage, utility-scale solar, and distributed power projects, aimed at meeting growing electricity demand.
The company is led by CEO Joe Nano and Chief Development Officer Steve Barna. NewEdge Power operates across key U.S. power markets, with a project pipeline targeting PJM and other regions.
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