Los Angeles, November 15, 2010 — Fidelis Energy signed a letter of intent to develop a 100 MW solar park in Spain.
It is anticipated that the project will generate up to $350 million in revenue if fully completed. Solar Park Initiatives will partner with a Spanish developer to complete the project, which is subject to permitting and financing approvals.
James Poole, CEO of the company, said, “Fidelis continues to search for good opportunities in the solar sector and develop host sites and relationships for its optimal use and value. This is a great opportunity for our company and we will keep investors informed of our progress on this very sizable project.”
Fidelis Energy is an energy company focused on developing, constructing and operating solar energy projects exclusively or in partnership with other energy companies. Fidelis is also in the development stage of designing solar photovoltaic cell technology products and plans to manufacture and distribute these products in the future.