Natural Gas Plant Cricket Valley in Talks to Restructure Debt

Cricket Valley Energy Center is working with Evercore Inc.as the struggling power producer explores options to overhaul its debt, according to people familiar with the situation.

They include obtaining fresh money to refinance the loans, said the people, who asked not to identified discussing a private matter. Another option is current owners of the Dover, New York gas-fueled power plant possibly seeing those stakes diluted by equity being turned over to creditors, one of the people said. Plans have not been finalized and no action may occur.

CVEC in 2017 said it secured $709 million in equity commitments from ...