AP Cricket Valley Holdings II Inc. and other parties behind the 1,000-MW Cricket Valley Energy Center project on Nov. 21 filed a change in plans with the New York State Public Service Commission, but said this change doesn’t affect a planned December 2016 construction start for this gas-fired, combined-cycle project.
On Oct. 25, AP Cricket Valley Holdings II, MC CVEC Project Holdings I LLC, Ullico Infrastructure Cricket Valley Holdco LLC, Kiwoom SPV, Development Bank of Japan Inc. SPV, SeAH Holdings Corp., Cricket Valley Energy Holdings II LLC, Cricket Valley Energy Center LLC and Cricket Valley Energy Partners LLC had applied for an ownership change on the project that would aid the financing effort for the project. The total financing is for around $1.5bn.
On Nov. 21, they asked to amend the petition to remove Ullico Infrastructure Cricket Valley Holdco and SeAH Holdings as petitioners. Said the Nov. 21 filing: "AP Cricket Valley Holdings II Inc. has decided not to sell to UICVH and SeAH membership interests in Cricket Valley Energy Partners, LLC (‘CVEP’). This amendment has no impact on the Commission’s market power review because no new entities are proposing to acquire membership interests in CVEP and no changes are being made to the APCVHII Transaction, DBJ Transaction or Kiwoom SPV Transaction as described on page 2 of the Petition.
"Petitioners also hereby amend the Petition to reflect a non-material change in the upstream ownership in Kiwoom SPV, which will occur before the transfer of membership interests in CVEP to Kiwoom SPV. Page 9 of the Petition states that ‘Kiwoom Global will be directly owned by four entities which include: NH Investment & Securities Co. (‘NHIS’), LTD. NHIS may be replaced by NH Investment & Securities (H.K.) Ltd., a wholly owned subsidiary of NHIS.
"The changes to the proposed transactions described above do not change Petitioners’ anticipated closing of financing and commencement of construction of the Facility and a 14.5-mile transmission line in December 2016. Petitioners respectfully request expedited review of the amended Petition and request Commission action on the amended Petition no later than the Commission’s December 15, 2016 session."
Cricket Valley Energy Center is developing a 1,000-MW, gas-fired facility in Dover, N.Y. In February 2013, the New York commission granted Cricket Valley a Certificate of Public Convenience and Necessity (CPCN) to construct, operate, and maintain the facility, and established a lightened regulatory regime with respect to Cricket Valley’s ownership and operation of the facility.