Gas Exploration and Production Company to Buy Gas-Fired Power Plant in Texas
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BKV Corp., a privately held natural gas exploration and production company headquartered in Denver, Colorado, said it will purchase the Temple 1 power plant in Temple, Texas. The deal, valued at $ 430 million and subject to customary closing conditions, is expected to close in the fourth quarter of 2021.
“We’re excited about this acquisition, and the strategic steps we are taking to position BKV as a leading integrated energy company with cleaner, greener energy,” Chris Kalnin, CEO of BKV, said in a statement issued to POWER. “By extending our natural gas business into a power business we are able to deliver to unprecedented grid reliability, while also creating industry leading ESG [environmental, social, and governance] standards because we can directly certify our emissions footprint at each step in the value chain, from underground molecule to burner tip.”
State-of-the-Art Facility
Temple 1 (Figure 1) is a 758-MW combined cycle facility built in 2014.…