MMC Energy, Inc. Announces Escondido Power Plant Operational in Time for California's Peak Summer Season
Posted on: Monday, 12 June 2006, 09:01 CDT
NEW YORK, June 12 /PRNewswire-FirstCall/ -- MMC Energy, Inc. (BULLETIN BOARD: MMCN) today announced that its wholly owned power plant, MMC Escondido with gross nameplate capacity of 44 MW has achieved its Commercial Operation Date in time for California's peak summer season.
MMC Escondido has begun commercial operation and is now supporting the energy-scarce Southern California market with electricity. The plant has been qualified by the California Independent System Operator ("CAISO") to provide spinning reserve ancillary services and reliable energy to the critically short Southern California energy market. The plant has black start and quick start capabilities and can reach base-load power output in less than 10 minutes to meet peak load requirements.
MMC Escondido is located in the City of Escondido in San Diego County on land owned by MMC Energy, Inc. and interconnects directly into the San Diego Gas and Electric transmission system. The facility is fueled with natural gas and has state of the art emission control systems.
"At a time when the Governor of California, the California Energy Commission ("CEC") and other energy agencies are warning of energy shortages, MMC has stepped up by making a substantial investment in California and delivering critically needed new megawatts to increase energy supplies in time for the hot summer months," said MMC's Chairman and Chief Executive Officer, Karl Miller.
"MMC has made a commitment to the Governor of California, the CEC and other energy agencies that it will continue to invest in power generation facilities and deliver critically needed new megawatts to California as long as the regulatory and market structure changes support MMC investments," Miller added.
About MMC Energy, Inc.
Headquartered in New York City, MMC Energy, Inc. is a North American energy acquisition company, which primarily acquires and operates deep value power generation and associated energy infrastructure assets. The Company's mission is to create long-term value from deep discount acquisitions through a duel focus on structuring disciplined acquisitions and hands on post- acquisition asset management. The Company currently owns power generation assets in California and is pursuing an aggressive portfolio acquisition and growth strategy targeting small to medium sized power generation facilities and energy infrastructure assets primarily in California, Texas, Mid-Atlantic, and the Northeastern U.S.
Additional information concerning MMC Energy is available at http://www.mmcenergy.com/
Forward Looking Statements:
This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, including without limitation those statements regarding the Company's ability to exploit acquisition opportunities. These statements are expressed in good faith and based upon a reasonable basis when made, but there can be no assurance that these expectations will be achieved or accomplished. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but no limited to, our inability to generate sufficient operating cash flow to adequately maintain our generating facilities and service our debt, commodity pricing, intense competition for undervalued generating assets, environmental risks and general economic conditions. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, other than as may be required by applicable law or regulation. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on May 15, 2006, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. We undertake no obligation to update these forward-looking statements.
MMC Energy, Inc.
CONTACT: Denis Gagnon, Chief Financial Officer, MMC Energy, Inc.,+1-212-977-0900, dgagnon@mmcenergy.com
Web site: http://www.mmcenergy.com/
Source: PRNewswire-FirstCall
Related Articles
- Shell Energy Closes on Acquisition of Integrys Energy Services' Canadian Natural Gas and Power Customer Contract Portfolio
- Shell Energy North America Signs Agreement to Acquire Integrys Energy Services' Canadian Natural Gas and Power Customer Contract Portfolio
- Honeywell Honored With California's Prestigious 'Flex Your Power' Award
- Petrohawk Energy Corporation Announces 18,500 Net Acre Fayetteville Shale Acquisition
- Tim Lewis Communities' Amberleigh Offers Energy-Efficient Homes With SunPower Solar-Power Systems
- Meritage Homes' 'Zero Energy' New Home Community Combines Solar Power and Energy Efficiency
- Bernanke Says Fed Policy Must Be Forward-looking
- GE Energy to Study Impact of Wind Power on California Grid
- Westinghouse Lauds Progress Energy for Proactive, Forward-Looking Approach to Nuclear Fleet Expansion
- China Exclusive: Wind Energy to Serve As China's Major Power Driver: Report
 |
 |
User Comments (0)
RSS Feeds