Fidelis Energy Signs LOI for $18.4 Million in Commercial Projects

The author:本站Release time:2010/12/27Click times:1528

Published 01 February 2010

Fidelis Energy Inc. announces it has signed a Letter of Intent with multiple Greek multinational corporations to install and operate approximately 10 megawatts (MW) of photovoltaic (PV) systems on all of their large-scale manufacturing facilities located throughout Greece.

The company will provide all solar equipment for the installation on the sites, as well as sell the newly generated solar energy to the buildings at a discounted rate compared to the previous electricity provider.

"Due to robust government tax incentives, Greece has emerged as a leading market for solar power energy, and for Fidelis as we continue to launch on our aggressive international expansion program," said James Poole, President and CEO of Fidelis. "Their current environment of available grants and favorable feed-in tariffs presents a great opportunity for the Company, and we fully expect to see an increase in projects within the region."

"We are encouraged with the recent influx of projects that the company is being offered, as well as our ability to secure multiple agreements simultaneously. Fidelis' proven business model which offers low cost, high return energy production to large-scale manufacturing facilities is rapidly being accepted throughout the alternative energy markets. The company will continue to leverage its strategic business model and growing market presence in order to expand its geographic presence, increase earnings, and improve shareholder value," said Mr. Poole.