US gas producer acquires electricity company in Texas
U.S. shale producer BKV Corp is acquiring a 758-megawatt Temple, Texas power generator for US $430 million from Temple Generation I LLC through a 50-50 joint venture with Banpu Power US Corp, reported Reuters.
"It makes us a value-chain energy player," said Chris Kalnin, chief executive of BKV Corp, a subsidiary of Thailand's Banpu PCL told Reuters. The deal is expected to close the last quarter of this year.
"We're seeing energy evolving to be more on demand and more electrified," he said.
BKV will fuel the Temple facility with natural gas from its nearby Barnett shale operation.
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