BKV-BPP Power, LLC Purchases Second Natural Gas Power Plant in Texas

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Jul 11, 2023, 07:00 ET

DENVER, July 11, 2023 /PRNewswire/ -- BKV-BPP Power, LLC, a joint venture between BKV Corporation (BKV) and Banpu Power US Corporation, announced today that it has closed on the purchase through its subsidiary Temple Generation Intermediate Holdings II, LLC, of the entity that owns a natural gas-fueled power plant, located in Temple, Texas (the "Temple II Power Plant").

Temple I and Temple II Power Plants, Temple, Texas

BKV-BPP Power, LLC, also owns and operates the Temple I Power Plant, a natural gas-fueled, combined cycle facility that sits on the same site as the Temple II Power Plant and utilizes advanced technologies to generate power in a low-carbon, efficient manner.

Robert Dowd, Managing Director of BKV-BPP, LLC, said, "We are very excited to be adding the Temple II facility to our asset base. The location alone provides excellent, synergistic opportunities for our growing Texas-based power business and will allow us to continue to deliver exceptional grid reliability for our customers while focusing on our industry-leading environmental standards."

Built over 2.5 years, the Temple II Power Plant opened for commercial operation in the second half of 2015 and is equipped with modern, flexible, and efficient combined cycle turbines; the power generation facility features advanced emissions-control technology, making it, like the Temple 1 facility, one of the lowest carbon-emitting natural gas-fueled power plants in the U.S. The power plant provides enough energy to power 750,000 homes across central Texas and is strategically located adjacent to the I-35 corridor in central Texas, between Dallas-Fort Worth and Austin.

Dowd continued, "This is an important milestone for us as we continue to grow and build a power company that reflects the values, innovation and ESG leadership of our partners – BKV and Banpu Power US."

About BKV Corporation
Headquartered in Denver, Colorado, BKV Corporation (BKV) is a privately held, forward-thinking, growth-driven energy company focused on creating value for our stockholders. BKV's core business is to produce natural gas from its owned and operated upstream businesses, which we expect to achieve net zero Scope 1 and Scope 2 emissions by the end of 2025. Founded in 2015, BKV has approximately 370 employees across the U.S. that are committed to building a different kind of energy company. BKV is one of the top 20 gas-weighted natural gas producers in the United States and the largest natural gas producer in the Barnett Shale. BKV Corporation is the parent company for the BKV family of companies. For more information, visit www.bkv.com.

About Banpu Power US Corporation
Banpu Power US Corporation (BPPUS) is a subsidiary of Banpu Power Public Company Limited (BPP), a power generating company for a sustainable world with a balanced portfolio of thermal and renewable power businesses across the Asia-Pacific region including Thailand, Laos, China, Japan, Vietnam, Australia and the United States of America. As an arm of BPP in the U.S., we are committed to operational excellence to achieve efficient power generation while deploying High-Efficiency, Low-Emissions (HELE) technologies which are safe and environmentally sound in accordance with the Greener & Smarter strategy. We are continuously moving forward to contribute to the goal of BPP in reaching a total equity-based power generation capacity of 5,300 MW within 2025 and remain specifically focused on growth opportunities in the U.S. For more information, visit www.bppus.com.

Advisors
Baker Botts L.L.P. acted as legal advisor to BKV-BPP Power, LLC.

Contacts:
Becky Escott
Director, Corporate Communications, BKV
[email protected]

SOURCE BKV Corporation