Comax will provide peaking service to EDF through ten distributed generation sites, five of which represent new sites acquired for this purpose. Total investment for this purpose is CAD10m, of which CAD9.8m 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.
The provision of peaking services is expected 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 power purchase agreements.
Based in Calgary, Alberta, Maxim Power owns and operates 44 power plants in western Canada, the US and France, having 809MW of electric and 117MW of thermal net generating capacity.
