Maxim Power Corp. Provides M2 Operations and CCGT Project Updates

Source: 9/21/2022, Location: North America

Maxim Power Corp. provides updates on its 204 MW Milner 2 (M2) operations and the Combined Cycle Gas Turbine (CCGT) expansion of M2 project.

As previously reported, M2 commenced cold commissioning activities related to the CCGT expansion project in the third quarter of 2022. These activities include taking the M2 gas turbine offline to allow for the connection of the heat recovery steam generator, steam turbine and related components. As a result of these activities, the M2 facility has been offline since early September. MAXIM anticipates that the CCGT expansion of M2 will begin hot commissioning activities early in the fourth quarter of 2022, which will result in intermittent generation of electricity throughout the quarter. The project remains on schedule to complete commissioning in December 2022.

Recent milestones include greater than 90% construction complete and continuing cold commissioning activities. The estimated project cost, excluding borrowing costs, is currently $155 million. MAXIM continues to forecast it has sufficient liquidity to complete the CCGT expansion of M2.

Completion of the CCGT expansion of M2 will allow capture of waste heat that would otherwise exhaust into the atmosphere and turn it into useful low carbon electricity for the Alberta power grid. The CCGT expansion of M2 will reduce the intensity of carbon emissions by more than 60% compared to the legacy coal-fired H.R. Milner facility.

Gulf Oil and Gas
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