Maxim Power Corp.
TSX : MXG

Maxim Power Corp.

November 24, 2010 18:22 ET

Maxim Power Corp. Announces Completed Environmental Impact Assessment for the 500 MW Milner Expansion Project

CALGARY, ALBERTA--(Marketwire - Nov. 24, 2010) - Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX:MXG) announced today that the Environmental Impact Assessment for the Corporation's Milner Expansion project, a 500 MW coal-fired generation facility adjacent to its existing Milner facility, was deemed complete by Alberta Environment. The decision by Alberta Environment enables the project to enter the final phase of the regulatory approval process, which is expected to conclude in the first quarter of 2011.

Concurrent with achieving this milestone, MAXIM has engaged in discussions with several parties to procure a long term fuel supply agreement for the Milner Expansion project. This project is expected to require some 1.4 million tonnes of thermal coal on an annual basis.

About MAXIM

Based in Calgary, Alberta, MAXIM is an independent power producer, which acquires or develops, owns and operates innovative and environmentally responsible power projects. MAXIM currently owns and operates 44 power plants in western Canada, United States and France, having 809 MW of electric and 117 MW of thermal net generating capacity. Approximately 80% of MAXIM's current portfolio is comprised of clean burning natural gas, high efficiency cogeneration, waste heat and landfill gas fuelled generation. MAXIM trades on the TSX under the symbol "MXG". For more information about MAXIM, visit our website at www.maximpowercorp.com.

Statements in this release which describe MAXIM's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of MAXIM to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. MAXIM may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions and will update such forward-looking statements as required pursuant to applicable securities laws.

Contact Information

  • Maxim Power Corp.
    John R. Bobenic
    President and CEO
    (403) 750-9300
    or
    Maxim Power Corp.
    Michael R. Mayder
    Vice President, Finance and CFO
    (403) 750-9311
    www.maximpowercorp.com