Thai Banpu buys Texan power plant
Thai energy company Banpu Public on August 11 said it signed an agreement to buy Temple Generation Intermediate Holdings, which owns the Temple 1 gas-fired power plant in Texas, for $430mn.
The 768-MW combined-cycle gas turbine power plant will be owned by BKV-BPP Power, a joint venture of Banpu subsidiaries, BKV Corp and Banpu Power US Corp.
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“This transaction will be funded by our internal cash flow and loan from financial institutions. The transaction is subject to customary terms and conditions and is expected to complete by the 4th quarter of 2021,” Banpu said.
Bloomberg reported that BKV, a US-based gas explorer, would directly supply gas to the power plant through long-term contracts. BKV last year completed the acquisition of Devon Energy.