Peaking power purchase agreement signed by Maxim

Maxim Power Corp. said that its wholly-owned subsidiary, Comax France S.A.S. has entered into power purchase agreements (PPA's) to provide 74 MW of electrical peaking services to Electricité de France for a term of eight years.

Comax will provide peaking service to EdF through ten distributed generation sites, five of which represent new sites acquired for this purpose and five of which are existing power plants being adapted for this purpose. The total investment is US$9.5 million, of which US$9.4 million or 98% is being provided by a number of French banks, and the remaining 2% is being provided by cash on hand. Work will be carried out through the spring of 2010 to reconfigure equipment at certain sites for commercial operations to commence on July 1, 2010.

Historically, Comax has focused on cogeneration applications whereby electricity is sold to EdF and thermal energy is sold to local businesses such as greenhouses. The provision of peaking services is intended to enable Comax to redeploy existing equipment on an economically attractive basis. Comax further anticipates developing and acquiring additional generating capacity to be contracted under this form of PPA. Comax has now total generation capacity of 184 MW of electricity and 81 MW of thermal energy.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Logistics Risk Management in the Transformer Industry

Transformers often are shipped thousands of miles, involving multiple handoffs,and more than a do...

Secrets of Barco UniSee Mount Revealed

Last year Barco introduced UniSee, a revolutionary large-scale visualization platform designed to...

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs