Maxim Power Corp. Signs Gas Turbine Agreement with GE Vernova for Prairie Lights Project
Maxim Power Corp. has entered into a gas turbine and generator reservation agreement with GE Vernova for a 7HA.02 gas turbine, with a target delivery by 2030. The agreement requires a non-refundable deposit in 2026, and a definitive sales agreement will follow. The gas turbine will support the 400 MW Prairie Lights Power project near Grande Prairie, Alberta, with projected spending of up to $60 million in 2026. Maxim currently has about $84 million in liquidity, expecting to fund project expenses through cash on hand and operations.
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Maxim Power Corp. has signed a gas turbine and generator reservation agreement with GE Vernova for a 7HA.02 gas turbine, targeting delivery by 2030. A non-refundable deposit is due in 2026, with negotiations for a definitive sales agreement to follow.
This gas turbine will be utilized in the permitted 400 MW Prairie Lights Power project near Grande Prairie, Alberta. An amendment to the project's regulatory permits will be required due to the turbine selection. Project spending for 2026 is anticipated to reach up to $60 million, funded by the corporation's liquidity of approximately $84 million, including $59 million in unrestricted cash.
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