M&A Deal Summary

Maxim Power Acquires Forked River Power Station

On September 17, 2007, Maxim Power acquired renewable energy company Forked River Power Station from Jersey Central Power & Light for 20M USD

Acquisition Highlights
  • This is Maxim Power’s 4th transaction in the Renewable Energy sector.
  • This is Maxim Power’s 2nd largest (disclosed) transaction.
  • This is Maxim Power’s 3rd transaction in the United States.
  • This is Maxim Power’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2007-09-17
Target Forked River Power Station
Sector Renewable Energy
Buyer(s) Maxim Power
Sellers(s) Jersey Central Power & Light
Deal Type Divestiture
Deal Value 20M USD

Target

Forked River Power Station

Ocean County, New Jersey, United States
Forked River Power Station is an 86 megawatt of electric generating capacity.

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Buyer(S) 1

Buyer

Maxim Power

Calgary, Alberta, Canada
Category Company
Founded 2010
Sector Renewable Energy
Employees44
Revenue 41M CAD (2023)
DESCRIPTION

Maxim Power is an independent power producer which acquires or develops, owns and operates innovative and environmentally responsible power and power related projects. MAXIM currently owns and operates 39 power plants in Alberta, the United States and France, having 778 MW of electric generating capacity. MAXIM provides innovative distributed power solutions in domestic and international energy markets. Maxim Power was incorporated in 2010 and is based in Calgary, Canada.

DEAL STATS #
Overall 5 of 6
Sector (Renewable Energy) 4 of 5
Type (Divestiture) 1 of 2
State (New Jersey) 1 of 1
Country (United States) 3 of 4
Year (2007) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-11 Balleycourt Cogen Plant

Verdun, France

Balleycourt Cogen Plant is an 8.0 MW thermal power plant and is based in Verdun, France.

Buy €5M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2008-08-06 Pittsfield Generating

Pittsfield, Massachusetts, United States

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.

Buy $52M

Seller(S) 1

SELLER

Jersey Central Power & Light

Akron, Ohio, United States
Category Company
Sector Utilities
DESCRIPTION

Jersey Central Power & Light Co. is an electric utility, provides regulated electric transmission and distribution services.

DEAL STATS #
Overall 1 of 1
Sector (Renewable Energy) 1 of 1
Type (Divestiture) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2007) 1 of 1
Size (of disclosed) 1 of 1
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