NewEdge Power, a US-based developer of utility-scale and distributed power projects, has announced an investment partnership with Strategic Value Partners (SVP) to establish a joint venture focused on utility-scale power development. Funds managed by SVP will provide an initial capital commitment to the venture, while a separate platform investment will support NewEdge’s expansion. Financial terms were not disclosed.
The joint venture will begin with a portfolio targeting up to 1.2 gigawatts (GW) of capacity in PJM, the regional electricity grid operator serving 13 US states and Washington, DC. NewEdge will manage project development, while SVP will finance selected projects as they advance through development.
The investment will also support NewEdge’s efforts to expand its development team, strengthen its operational capabilities and pursue additional projects across PJM and other US electricity markets.
NewEdge Power develops utility-scale battery energy storage systems, solar power projects and distributed generation infrastructure. Its activities include identifying suitable development sites, securing land rights and advancing projects through the grid interconnection and development processes.
The company is led by co-founders Joe Nano, Chief Executive Officer, and Steve Barna, Chief Development Officer. Its development activities span several US power markets, with a focus on battery storage and renewable energy infrastructure.
NewEdge previously secured Series A financing led by SJF Ventures in August 2025. The company also received earlier investment backing from Segue Sustainable Infrastructure and North Sky Capital. These firms were existing investors rather than newly announced participants in the SVP transaction.
As part of the partnership, Andrew Shore, a Managing Director on SVP’s North American Investment Team, will join NewEdge’s board as an observer.
The investment comes amid rising electricity demand across US power markets, driven partly by data centre development, manufacturing activity and electrification. The companies intend to use the partnership to advance battery storage infrastructure and other power projects in markets requiring additional electricity capacity.
