NEW YORK, March 17, 2008 (PRIME NEWSWIRE) -- MMC Energy, Inc. (Nasdaq:MMCE) announced today that on March 1, 2008, it had opened a California office located at 437 J Street, Suite 305, San Diego, CA 92101.
Michael Hamilton, the CEO and Chairman of MMC Energy, Inc. commented, "Having a San Diego office is important to us so that we can better concentrate our resources closer to our power generating facilities, particularly in light of the ongoing upgrade projects that our Chula Vista and Escondido facilities are undergoing. We remain focused on the California market and intend to be long-term players there."
About MMC Energy, Inc.:
The Company acquires and actively manages electricity generating and energy infrastructure-related assets in the United States. The Company is traded on the NASDAQ Global Market in the United States.
The Company's mission is to acquire, directly or through joint ventures, a portfolio of small to mid-size natural gas fueled electricity generating assets, generally below 250 megawatts or "MW."
The Company creates long-term value for its shareholders through disciplined asset acquisitions and hands on post-acquisition asset management. The Company actively invests in electricity assets which provide essential services to key transmission constrained markets such as California, where regulatory capacity requirements and a lack of local electricity supplies make peak electricity generation facilities valuable.
To date, the Company has acquired three electricity generating assets in California, totaling 110 MW of capacity. The Company is currently in the process of upgrading two of these assets, the 100 MW MMC Chula Vista Upgrade and the 50 MW MMC Escondido Upgrade, both located in San Diego County, California, and upgraded from their current configuration at a capacity of 44MW each.