MXG Maxim Power Corp

Maxim Power Corp. (TSX:MXG) ("MAXIM" or the "Corporation") is pleased to
announce the release of financial and operating results for its fourth quarter
and year ended December 31, 2007. The audited financial statements, accompanying
notes and Management Discussion and Analysis will be available on SEDAR on March
31, 2008 and on MAXIM's website. All figures reported herein are Canadian
dollars unless otherwise stated.




FINANCIAL HIGHLIGHTS

                                     Three Months Ended Twelve Months Ended
                                            December 31         December 31
                                         2007      2006      2007      2006
($ in thousands except per share
 amounts)
Revenue                              $ 37,992  $ 40,470 $ 124,762 $ 111,237
EBITDA (1)                             12,064    17,893    40,232    39,088
Net income                              4,015    10,553    15,401    19,906
 Per share diluted                     $ 0.09    $ 0.24    $ 0.35    $ 0.45
Cash provided by operations             7,940     8,566    35,490    23,851
 Per share diluted                     $ 0.18    $ 0.19    $ 0.80    $ 0.54

Electricity Deliveries (MWh)          305,460   311,312 1,158,389 1,120,429
Net Generation Capacity (MW) (2)          492       447       492       447
Average Alberta Power Prices ($ per
 MWh)                                    $ 62     $ 117      $ 67      $ 80

(1) EBITDA is earnings before interest, taxes, depreciation and amortization
    and is not a measure under Canadian Generally Accepted Accounting
    Principles ("GAAP") and may not be comparable to similar measures
    presented by other companies. Refer to Non-GAAP measures section of the
    MD&A for an explanation and reconciliation.
(2) Generation capacity is manufacturer's nameplate capacity net of minority
    ownership interests of third parties.



OPERATING RESULTS

During 2007, MAXIM outperformed the 2006 record operating results in terms of
revenue, megawatt hours ("MWh") generated, EBITDA, and cash provided by
operations. MAXIM earned revenue from electricity sales of $124.8 million versus
$111.2 million for 2006, an increase of $13.6 million or 12.2%. Generation in
2007 was 1,158,389 MWh versus 1,120,429 MWh in 2006, an increase of 37,960 MWh
or 3.4%. 2007 EBITDA was $40.2 million versus $39.1 million in 2006, an increase
of $1.1 million or 2.9% Cash provided by operations was $35.5 million for 2007
versus $23.9 in 2006, an increase of $11.6 million or 49%. Net income was $15.4
million for 2007 versus $19.9 million in 2006, a decrease of $4.5 or 23%.


MAXIM increased its revenue despite lower 2007 average Alberta power prices. The
average Alberta power price was $67 per MWh in 2007 compared to $80 per MWh in
2006. In North America, a portion from the HR Milner facility's generation was
sold at fixed prices above the 2007 average price. MAXIM also benefited from a
full year of operations from the Basin Creek and Capitol District Energy Centre
facilities and received market adjustments reflecting a full year of forward
capacity payments from its two power plants operating within the ISO New England
market. In France, MAXIM acquired 45 MW of generation capacity during 2007 which
increased revenue from France as of November 1, 2007 by $5.9 million. Net income
declined due to higher levels of interest and depreciation expense from MAXIM's
acquisitions in 2007 and 2006.


During the fourth quarter of 2007, MAXIM recorded revenue of $38.0 million
compared to $40.5 million for 2006 and EBITDA was $12.1 million compared to
$17.9 million in 2006 primarily due to lower Alberta power prices. Total
production for the fourth quarter was 305,460 MWh compared to 311,312 MWh in
2006 with HR Milner facility producing 247,975 MWh during the fourth quarter of
2007 compared to 253,867 MWh for the same period in 2006.


ACQUISITION AND DEVELOPMENT INITIATIVES

Forked River Generating Station

On September 17, 2007 the Corporation announced that it entered into an
agreement with Jersey Central Power and Light Company ("JCP&L") to acquire the
86 MW Forked River Power Station, located in Ocean County, New Jersey, for
US$20.0 million. The transaction is expected to close early in the second
quarter of 2008 subject to satisfying remaining conditions precedent to closing
and will be financed with cash on hand. In conjunction with this purchase, a ten
year tolling agreement will be entered into with FirstEnergy Solutions, a
subsidiary of FirstEnergy Corp. and an affiliate of JCP&L, for the entire
capacity of the plant. This project is strategically located in New Jersey and
includes 30 acres of land and existing infrastructure to support future
development of additional generating capacity on site.


French Acquisitions

MAXIM is pleased to announce that Comax France S.A.S., the Corporation's
wholly-owned French subsidiary, has entered into an agreement to purchase the
Somal facility in France for $3.4 million (2.2 million Euro), financed
substantially through the assumption of an existing capital lease in the amount
of $3.1 million (2.0 million Euro) and cash on hand of $300 thousand (180
thousand Euro). Closing is expected during April 2008. This acquisition will add
7 MW of electricity generating capacity and 7 MW of thermal generating capacity,
bringing MAXIM's generating portfolio of assets in France to 21 power plants
having a total of 129 MW electric and 121 MW thermal net installed generating
capacity.


Deerland Peaking Station

During 2007, MAXIM initiated the process to construct and operate a 190 MW
natural gas-fired power generation facility on a site immediately south of the
existing Deerland high voltage substation in Bruderheim, Alberta. The
Corporation secured an option for the plant site and initiated a public
consultation process on July 26, 2007. Regulatory applications for approvals to
construct and operate the facility were submitted on October 16, 2007 and MAXIM
expects to receive the permits early in the second quarter of 2008. MAXIM
anticipates that the facility could be operational in 2009. The facility will
use state of the art combustion turbine technology.


Milner Coal Leases

MAXIM continues to develop its three coal leases located in close proximity to
its HR Milner generating facility. According to a technical report prepared by
Marston & Marston in accordance with NI 43-101, the coal deposit is
metallurgical grade, low-to-medium matter bituminous coal that can also be used
in thermal applications that has energy content between 24.9 GJ/tonne and 27.8
GJ/tonne. Marston & Marston indicated resources of 26 million tonnes and
recoverable coal reserves of 13.4 million tonnes. MAXIM considers these
resources to be valuable both as fuel for the existing and planned expansion of
the HR Milner facility, and for sale in international coal markets. MAXIM
submitted mine permit and license applications during 2007 to the Alberta Energy
and Utilities Board and Alberta Environment for underground mine development and
is waiting for permits to proceed with development of these leases.


HR Milner Turnaround

The HR Milner facility was taken offline on March 27, 2008 to begin its annual
turnaround which is forecasted to be eight weeks in length in 2008. This
turnaround is considered major in nature with total costs budgeted to be $17.3
million. The turnaround includes refurbishing the major components such as the
generator and steam turbine, and other projects that will lengthen the economic
life of certain plant components and maintain the plant's high level of
efficiency. HR Milner was able to achieve a level of efficiency during 2007 to
meet greenhouse gas emission reduction targets under the Government of Alberta's
Specified Gas Emitters Regulation.


HR Milner Expansion

During 2007, MAXIM initiated a process to expand the generating capacity at the
HR Milner facility. Public disclosure documents were released in December 2007
and preliminary engineering and associated environmental studies are underway to
support preparation of regulatory applications. The 500 MW expansion will be
constructed with technology that complies with all relevant climate change
regulations and provides MAXIM with an opportunity for carbon capture.


CONFERENCE CALL AND WEBCAST FOR 2007 RESULTS

MAXIM will host a conference call for analysts and investors on Tuesday, April
1, 2008 at 9:00 a.m. MDT (11:00 a.m. EDT). The call will be hosted by John
Bobenic, MAXIM's President and Chief Executive Officer, and by Mike Mayder,
Vice-President, Finance and Chief Financial Officer.


To participate in this conference call, please dial (800) 732-9303 or (416)
644-3418 in the Toronto area. It is recommended that participants call at least
ten minutes prior to start time.


A recording of the conference call will be available from 12:00 p.m. MDT (2:00
p.m. EDT) on Tuesday, April 1, 2008 until Wednesday, April 11, 2008 at 9:59 p.m.
MDT (11:59 p.m. EDT). To access this replay, please dial (877) 289-8525 or (416)
640-1917 followed by the passcode 21267189#. In addition, the webcast will be
available commencing April 8, 2008 in the Investor Relations section of MAXIM's
web site at www.maximpowercorp.com.


About MAXIM

Based in Calgary, Alberta, MAXIM is an Independent Power Producer, which
acquires or develops, owns and operates innovative and environmentally
responsible power projects. MAXIM owns and operates 32 power plants in Western
Canada, United States and France, having 492 MW of electric and 125 MW of
thermal generating capacity. Upon closing acquisitions of the Forked River and
Somal power plants, MAXIM will own and operate 34 power plants having a total of
585 MW of electric and 132 MW of thermal net generating capacity.


MAXIM will continue to execute on its strategy as an Independent Power Producer
and is targeting significant growth through acquisitions and development of
power projects which utilize hydrocarbon based fuels and renewables in the
markets of Western Canada, United States and France. MAXIM trades on the TSX
under the symbol "MXG". For more information about MAXIM, visit our website at
www.maximpowercorp.com.


Statements in this release which describe MAXIM's intentions, expectations or
predictions, or which relate to matters that are not historical facts are
forward-looking statements. These forward-looking statements involve known and
unknown risks and uncertainties which may cause the actual results, performances
or achievements of MAXIM to be materially different from any future results,
performances or achievements expressed in or implied by such forward-looking
statements. MAXIM may update or revise any forward-looking statements, whether
as a result of new information, future events or changing market and business
conditions and will update such forward looking statements as required pursuant
to applicable securities laws.

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