MXG Maxim Power Corp

Maxim Power Corp. (TSX:MXG) ("MAXIM or the Corporation") announced today that it
has agreed to acquire the Pittsfield Generating Company and its 170 megawatt
("MW") electric power plant in Pittsfield, Massachusetts. MAXIM also announced
that it has closed the purchase of the 7 MW Somal cogeneration facility in
France.


Pittsfield Generating Company and Power Plant

MAXIM has agreed to acquire the Pittsfield Generating Company and its 170 MW
electric power plant in Pittsfield, Massachusetts, from affiliates of GE Energy
Financial Services, a unit of GE for US$52.9 million. The transaction, expected
to close by early in the third quarter of this year, is subject to approvals by
the Federal Energy Regulatory Commission, the US Environmental Protection Agency
and other customary closing conditions.


The Pittsfield facility is contracted under a Reliability Must Run Agreement
with ISO New England until June 1, 2010. Under this agreement, the plant is
available to provide power to the regional power grid when requested by ISO-NE.
Following expiration of the Reliability Must Run Agreement, the facility will be
eligible for Forward Capacity Market Payments from the ISO-NE, as well as the
sale of energy into the day-ahead and real-time energy markets of ISO-NE.


The Pittsfield generating station is a strategic addition to MAXIM's growing
base of generating capacity in the northeast United States. MAXIM will own 4
power plants having a total of 383 MWs of generating capacity in this region
upon closing this acquisition and the acquisition of the Forked River power
plant. These two projects provide additional scale and diversity in MAXIM's
generating portfolio in the region. Furthermore, MAXIM expects operational
synergies across the plants given the common technology platform, which will
include seven GE Frame 6 combustion turbines, three of which are at the
Pittsfield plant.


The Pittsfield generation facility is a 170 MW combined-cycle, dual-fuel (it has
the flexibility to use natural gas or fuel oil) power plant that consists of
three combustion turbine generators, three separately fired heat recovery
boilers and an extraction/condensation steam turbine generator. The project
began commercial generation September 1, 1990 and was awarded Reliability Must
Run status on July 16, 2007 retroactive to December 1, 2005. The plant has been
operated for Pittsfield Generating Company by a unit of Syracuse, NY-based
PurEnergy since October 2004, and will continue to be operated by PurEnergy's
team of locally based professionals following the completion of the sale.


Somal Power Plant

MAXIM also announced that Comax France S.A.S., the Corporation's wholly owned
French subsidiary, has closed the purchase of the Somal power plant in France
for EUR2.2 million, financed substantially through the assumption of an existing
capital lease. This acquisition adds 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 of electric and 121
MW of thermal net installed generating capacity.


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 now owns and operates 33 power plants in
Western Canada, United States and France, having 499 MW of electric and 132 MW
of thermal generating capacity. Upon closing the Pittsfield and Forked River
acquisitions MAXIM will own 35 power plants having 755 MW of electric and 132 MW
of thermal 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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