MMC Energy Inc.
MMC ENERGY, INC. ANNOUNCES FORWARD CAPACITY SALES FOR ITS CALIFORNIA PLANTS
MMC Energy Inc. / Disposal/Contract Corporate news transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- MMC ENERGY, INC. ANNOUNCES FORWARD CAPACITY SALES FOR ITS CALIFORNIA PLANTS New York, February 1, 2007 - MMC Energy, Inc. ('MMC'), the energy acquisition company, executed a series of Resource Adequacy Contracts on January 23, 2006 with Occidental Power Services, Inc., an investment-grade power marketer, to sell its Net Qualified Capacity from two of the three wholly owned power plants that it operates in the California Independent System Operator ('CAISO') control area (the 'Agreements'). The Agreements consist of two multi-year contracts and are expected to provide (subject to unit availability) aggregate gross revenues equal to $7.6 million. With the execution of these contracts MMC has signed Resource Adequacy Contracts for 55% of the Net Qualified Capacity from its existing CAISO generation portfolio through 2011. About MMC Energy, Inc.: MMC is an energy acquisition company, which primarily acquires and operates critical power generation and associated energy infrastructure assets. The Company’s business strategy is to provide critical reliability-based power and services including capacity, ancillary services and peaking energy from its power plants. The company is headquartered in New York City and traded on the NASDAQ OTC Exchange in the United States and the Deutsche Bourse in Germany. The Company creates long-term value for its shareholders through deep value asset acquisitions and hands on post- acquisition asset management and cash flow growth. The Company currently owns power generation assets in Southern California and is pursuing a disciplined portfolio acquisition and growth strategy targeting power generation facilities and energy infrastructure assets primarily in California, Texas, Mid-Atlantic, and the Northeastern U.S. READ IT ON THE WEB www.mmcenergy.com CONTACT: Denis G. Gagnon Chief Financial Officer (212) 977-0900 Denis G. Gagnon Chief Financial Officer +1 (212) 977-0900 DGAP 01.02.2007 ---------------------------------------------------------------------- Language: English Issuer: MMC Energy Inc. 26 Broadway, Suite 907 NY 10004 New York Vereinigte Staaten von Amerika Phone: +1 212 977 0900 Fax: +1 917 591 6906 E-mail: miller@mmcenergy.com WWW: www.mmcenergy.com ISIN: US55312Q1094 WKN: A0J2L0 Indices: Listed: Freiverkehr in Berlin-Bremen; Open Market in Frankfurt End of News DGAP News-Service ---------------------------------------------------------------------------
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found