Denver-based BKV Corporation will acquire an additional 50 percent of Banpu Power US Corporation’s interest in BKV-BPP Power, LLC, increasing its ownership to 75 percent of the joint venture.
The deal, announced in a news release on Wednesday, strengthens BKV’s control over the Temple I and II natural gas power plants in Texas and advances its closed loop energy strategy, which integrates natural gas production with low-carbon power generation.
BKV cited rising electricity demand in the Electric Reliability Council of Texas, or ERCOT, fueled by artificial intelligence and data center growth, as a key driver for expanding its power portfolio. With majority ownership, the company plans to consolidate the joint venture’s financial results with its own, streamline governance and position the platform for future power asset development and acquisitions.
BKV will pay $376 million, minus 25 percent of the joint venture’s net debt, split evenly between cash and BKV stock priced at $21.66 per share.
The transaction is expected to close in the first quarter of 2026.
