Maxim Power Corp.
TSX : MXG

Maxim Power Corp.

June 30, 2011 19:29 ET

Maxim Power Corp. Announces Regulatory Approval of HR Milner Power Plant Expansion Project

CALGARY, ALBERTA--(Marketwire - June 30, 2011) - Maxim Power Corp. (TSX:MXG) ("MAXIM" or the "Corporation") is pleased to announce that the Alberta Utilities Commission ("AUC" or "Commission") has approved MAXIM's application to construct and operate the 500 MW HR Milner Expansion Project ("M2").

M2 will be located adjacent to the existing 150 MW HR Milner Generating Station ("M1") and will utilize state-of-the-art, supercritical, pulverized coal technology, making it the cleanest and most fuel-efficient coal-fired power plant in Canada. Subject to satisfactory commercial and financing arrangements, construction activities are targeted to commence in the summer of 2012. MAXIM anticipates M2 will be fully commissioned approximately 3 years after the start of construction.

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. 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) 263-3021

    Maxim Power Corp.
    Michael R. Mayder
    Vice President, Finance and CFO
    (403) 263-3021