Fidelis Energy has manufactured and shipped more than 23MW of solar modules to its first customer, TinSol Energy, located in South Africa. The company began module production at its manufacturing facility in China earlier this year, accelerating the manufacturing process and reaching the anticipated shipping date ahead of schedule.
This shipment, which was due to be delivered in the first quarter of 2011, is the first of several expected to be sent out by TSEL in order to reach the companies long-term solar 207MW module supply agreement worth US$475 million. The modules and US$52.5m are expected to be received by December 15, 2010.
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James Poole, Fidelis chief executive officer and president said, “During this fourth quarter, we achieved record revenues and shipments, both of which exceeded our previous targets. We continued to execute on our solar integration strategy, increasing our capacities and improving control over manufacturing processes and costs. Fidelis has also secured additional solar module contracts for 2011 with both existing and new leading solar companies. We expect to continue our strong momentum in the first quarter of 2011 and believe we are well positioned to become a leader in the solar industry.”