HOUSTON, October 29, 2025 – Baker Botts L.L.P., a leading international energy, technology, and life sciences law firm, represented BKV Corporation (NYSE: BKV) in its definitive agreement to acquire a majority control position in BKV-BPP Power, LLC, a joint venture with Banpu Power US Corporation.

The transaction advances BKV's closed loop energy strategy and positions the company to capitalize on growing power demand from artificial intelligence and data center development in the ERCOT market. Under the terms of the transaction, BKV will increase its ownership from 50% to 75% in the power generation joint venture.

BKV-BPP Power owns the Temple I and Temple II plants, combined cycle gas and steam turbine power plants located in the ERCOT North Zone in Temple, Texas.

The transaction will be paid 50% in cash and 50% in BKV common stock and is expected to close in the first quarter of 2026, subject to approval by at least 75% of disinterested shareholders of Banpu Power Public Company Limited present at a meeting called for such purpose.

The company's release can be viewed here.

Baker Botts Lawyers/Offices Involved:

Corporate: Samantha Crispin (Partner, Dallas); Sarah Dodson (Partner, Dallas); Jennifer Trejo (Senior Associate, Dallas); Will Cozzens (Associate, Austin); Elizabeth Kirkland (Associate, Dallas)

Litigation: Richard Harper (Partner, New York)

Tax: Steve Marcus (Partner, Dallas)

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