The New York State Public Service Commission in a Dec. 19 written order approved an application by Cricket Valley Energy Center LLC, which is developing a 1,000-MW combined-cycle, natural gas-fired facility in the Town of Dover, New York, for ownership changes that will aid in the financing of this project.
In February 2013, the 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.
On Oct. 25, Cricket Valley and various corporate affiliates (i.e., AP Cricket Valley Holdings II Inc., MC CVEC Project Holdings I LLC and Cricket Valley Energy Holdings II LLC, plus Cricket Valley Energy Partners LLC), as well as other entities asked for a declaratory ruling that further review under Public Service Law (PSL) §70 is not needed with respect to certain proposed transactions.
The petition also sought a declaratory ruling that: a proposed intra-corporate reorganization that would introduce a new holding company – Cricket Holdings II – upstream of Cricket Valley does not require further review under PSL §70; and the acquisition of indirect ownership interests in the Cricket Valley generation facility (Facility) would not make two companies “electric corporations” within the meaning of the PSL.
On Nov. 21, the petitioners filed an amendment in order to remove two companies from the petition.
The companies said in the Nov. 21 amendment application that timely approval might mean that project construction could begin in December of this year.