BKV Announces Power Generation Equipment Supply Contract Backed by Agreement with a Leading Investment-Grade Hyperscaler
Key Highlights
- ➤1,200 MW equipment contract advances BKV’s prospective Texas power-generation project
- ➤Hyperscaler backstop covers approximately 90% of equipment-contract payments through March 31, 2027
- ➤BKV may terminate the contract if mutually agreeable offtake arrangements remain unsigned by March 31, 2027
- ➤Equipment deliveries begin in September 2028
Expert Statements
Chris Kalnin, Chief Executive Officer of BKV Corporation
“Securing long-lead-time generation equipment is an important step in advancing power projects on the scale and timelines customers require and is consistent with our disciplined approach to capital deployment”
BKV Announces Power Generation Equipment Supply Contract Backed by Agreement with a Leading Investment-Grade Hyperscaler
BKV Corporation (“BKV” or the “Company”) (NYSE: BKV) today announced that a wholly owned subsidiary of BKV has executed an equipment supply contract with a Tier 1 Supplier for the purchase of natural gas-fired power generation equipment for the Company’s prospective power generation project in Texas. BKV also announced a backstop agreement with a leading investment-grade hyperscaler, under which the hyperscaler has agreed to reimburse a portion of BKV’s costs associated with the equipment and related project work. This investment grade hyperscaler is also the intended off-taker for the prospective power generation project.
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