BKV signs equipment supply contract for Texas power project, targets 1,200 MW capacity
BKV•BKV signed an equipment supply contract for a prospective 1,200-megawatt gas-fired Texas power project. A backstop agreement with its intended hyperscaler offtaker covers about 90% of contract payments through March 31, 2027; equipment deliveries are scheduled to start in September 2028.
1. Contract and backstop
BKV signed an equipment supply contract with a Tier 1 supplier for the prospective project. A backstop agreement with an investment-grade hyperscaler, the intended offtaker, reimburses part of BKV’s equipment and project costs and covers about 90% of payments due through March 31, 2027. If no offtake deal is reached by then, BKV can terminate the supply contract with no further payment obligations. Equipment deliveries are scheduled to start in September 2028.
