August 12, 2009 (FinancialWire) — MMC Energy, Inc. (NASDAQ: MMCE) announced that its wholly owned subsidiary, MMC Chula Vista II, LLC, signed a definitive agreement to sell its two remaining General Electric LM6000PC Sprint(r) turbines to an affiliate of Pro Energy Services, LLC.

In connection with signing the definitive agreement, the company received a $3 million nonrefundable deposit. The company expects to utilize the deposit proceeds and available cash on hand to repay the $6.44 million of debt owed to GE Energy Financial Services that has been collateralized by the turbines. The transaction is targeted to close on October 7, 2009. The company expects to record a loss of approximately $5.4 million, reflected as an impairment charge to the carrying value of the turbines, in the company’s Second Quarter results.

MMC previously announced the sale of a General Electric LM6000 PC Sprint(r) turbine in November 2008.

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