Fidelis Energy has entered into a further long-term solar module supply agreement with Lagofrio Energy Solutions, a wholly-owned subsidiary of TinSol Energy, for installations in the development and build-out of numerous solar park locations across the African continent. Under the terms of the new contract, Fidelis will supply a total of 207MW, having completed shipments of 76MW thus far, for a total product value of US$475 million. Shipments for this new contract is to commence during the second quarter of 2012.
Wes L. Volker, managing director of TinSol Energy, commented: “We are extremely satisfied that we have selected Fidelis as our partner to supply our large solar projects in Africa, they have diligently delivered above and beyond our expectations. This fourth contract is another step toward a long and prosperous relationship with Fidelis and their partners as we develop and expand our solar energy operations in Africa.”
Over the past year, Fidelis management has spent significant time overseas procuring its solar sector business relationships and building foundations for future expansion. The company has also been focused on the development of its production facilities and general operations abroad.