US-based energy company BKV has acquired an additional 25% stake in BKV-BPP Power JV for $115.1m, increasing ownership to 75%. The transaction enhances control over power operations and aligns with BKV’s closed-loop energy strategy. The JV includes Temple I and II power plants to meet growing demand in Texas market.

The acquisition allows BKV to consolidate JV’s financial results, providing transparency in cash flow for investors. New governance arrangements will support growth objectives and reliability at Temple facilities. CEO Chris Kalnin sees this as a critical step forward for BKV’s power business, strengthening their position in the Texas power market.

BKV operates as a natural gas producer with assets in various energy sectors. The company focuses on baseload power delivery and sustainable energy solutions, expanding its end-to-end energy value chain. The majority stake in BKV-BPP Power JV enhances strategic flexibility and growth opportunities while maintaining partnership with BPPUS.

Read more at Yahoo Finance: BKV finalises majority stake acquisition in BKV-BPP Power JV