It delivers 600W peak pulse power per the 10/1000µs waveform, with a minimum breakdown voltage of 144V and a maximum clamping voltage of 209V at the rated peak pulse current of 2.9A.
The 130V reverse standoff voltage is the maximum DC voltage the diode can sit across without significant leakage — your rail must stay below this in normal operation. The 144V minimum breakdown is where the device starts conducting; if your rail can spike to 144V under load dump or surge, this diode catches it. The bidirectional configuration means it clamps both polarities with one device — useful on AC-coupled data lines or bipolar supplies.