Fidelis will begin shipments against this contract during the first quarter of 2011. Product will ship from the Fidelis module plant in China.
Wes Volker, managing director of TSEL, said: “We have continued to select Fidelis as our partner to supply our large solar installations due to the cost and performance advantages afforded by the solar cell technology owned by Fidelis. This second contract is another step toward a long and prosperous relationship with Fidelis as we develop and expand our energy business in Africa.”
James Poole, CEO of Fidelis Energy, said: “The environmental benefits of solar energy are critical to addressing the global warming challenge facing all of us. The electricity generated as a result of the deployment and use of the PV modules we will sell to TSEL will avoid the annual emission of nearly 600,000 metric tons of CO2 that would result if the electricity were generated by coal-fired power plants.”
Fidelis announced upto $80m of new financing in February 2010, for the purpose of expanding its PV manufacturing capacity. The company plans to expand its annual manufacturing capacity by approximately 150MW in each of the next several years.
