UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 25, 2008
MMC ENERGY, INC.
(Exact name of registrant as specified in its charter)
Delaware | 000-51968 | 98-0493819 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
26 Broadway, Suite 960 New York, NY | 10004 |
| (Address of Principal Executive Offices) | (Zip Code) |
(212) 977-0900
(Registrant's telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On January 25, 2008, MMC Energy, Inc (“MMC”) entered into an Equipment and Services Agreement (the “Agreement”) with GE Packaged Power, Inc. (“GE”), a subsidiary of General Electric, pursuant to which MMC agreed to purchase two LM-6000 PC Sprint natural gas-fired turbines to be used in its Chula Vista Energy Upgrade Project (the “Project”), a 100 megawatt, or MW, natural gas-fired power plant in Chula Vista, San Diego County, California.
The total purchase price for the turbines is approximately $31 million, to be paid in several installments through the expected delivery date in early 2009. The total purchase price is subject to minor adjustment contingent upon final optional accessories selected by the Company. Upon certain specified events, MMC may be obligated to pay a termination fee to GE in connection with the termination of the Agreement. The turbines are the primary equipment to be used in the Project, and will allow the Company to increase its capacity at the Chula Vista site, currently 44MW, as well as to greatly improve its efficiency and reduce its emissions generated per MW-hour.
MMC previously announced on October 1, 2007, that the California Energy Commission has accepted MMC 's Application for Certification for the Project, which formally begins the California power plant site certification process.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
(d) Exhibits
99.1 Press Release, dated, January 29, 2008, issued by MMC Energy, Inc.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| Date: January 29, 2008 | MMC ENERGY, INC. | |
| | | |
| By: | /s/ Denis Gagnon | |
Name: Denis Gagnon | ||
| Title: Chief Financial Officer | ||