Fidelis will begin shipments against this contract during the first quarter of 2011. The products will ship from the Fidelis module plant in China, scheduled to come online during the fourth quarter of 2010.
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, said: “This second deal with TSEL validates our ever improving position in the international solar market. Along with the substantial investment commitment we secured in February, additional large megawatt capacity agreements are under negotiation that will facilitate Fidelis to command a leadership position in the high growth solar market.”
Fidelis announced up to $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.
