For BKV, a US-based energy company, the acquisition of a controlling interest in its Joint Venture has thus far proven elusive. This joint venture is called BKV-BPP Power. The company completed the $115.1 million deal, upping its ownership from 50% to 75%. Then, on October 29, 2025, we shared the big news about our biggest acquisition yet. We implemented it partially by paying cash and partially by issuing 5,315,390 new shares.
For BKV, the acquisition represents an inflection point, giving it increased operational control over BKV-BPP Power’s assets. This strategic advancement complements BKV’s wider vision to develop and refine its closed-loop energy strategy and create an integrated, efficient power developer. Through majority ownership, BKV is better equipped to take advantage of growing opportunities in the Texas power market.
BKV bought the extra stake from BPPUS, one of the other partners in the joint venture. BKV and BPPUS combined their expertise to form BKV-BPP Power. Together, their partnership has positioned BKV-BPP Power as an emerging competitive power player in the U.S. energy transition. With this acquisition, BKV plans to expand its current partnership even further. They will use their new consolidated platform to grow their power asset portfolio.
BKV’s CEO, Chris Kalnin, indicated that this acquisition would be a “game changing” act for their growth trajectory.
“The successful closing of this transaction represents a critical step forward for BKV’s power business.” – Chris Kalnin, CEO of BKV
He described some of the strategic benefits they were able to achieve by making this move.
“BKV’s majority stake in the Power JV enhances our strategic flexibility and strengthens our ability to capture and fully capitalise on the exceptional growth opportunities we see in the Texas power market.” – Chris Kalnin, CEO of BKV
Kalnin also highlighted the long-term vision of the company.
“This consolidated platform will serve as our foundation for expanding our power asset portfolio while maintaining our strong partnership with BPPUS.” – Chris Kalnin, CEO of BKV