MMC Energy (MMCE) Receives Final Approval for Escondido Repowering Project
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MMC Energy, Inc. (Nasdaq: MMCE) announced today that it received an Authority to Construct permit from the San Diego Air Pollution Control District, the final regulatory approval required to commence its Escondido Energy Upgrade Project.
The Upgrade Project will involve a full-scale repowering of MMC's existing 44.5 MW facility in the city of Escondido, California, with a new 50-megawatt simple-cycle GE LM6000 PC Sprint(r) peaking unit. The highly efficient turbines will allow MMC to increase its capacity, greatly improve efficiency and reduce emissions on a per-kilowatt basis. Construction activities are scheduled to commence in January, 2009, and the facility is expected to be in commercial operation in time to help meet peak summer demands in the fast-growing Southern California power market during the summer of 2009. The upgraded facility will be able to generate enough power to supply approximately 30,000 homes.
MMC Energy, Inc. is private equity firm specializing in acquisition of small to medium sized companies directly or through joint venture.
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