Fidelis Energy announces $25 million solar energy facility in India

BEVERLY HILLS, USA: Fidelis Energy Inc. has announced a $25 million agreement with Esar Solar Power Pvt. Ltd. (ESP), a Jaipur-based company, to develop and construct the first of several solar energy projects located in the Thar Desert near Jaisalmer, India.

The region is destined to become the world's biggest solar power house as it basks in an average of 330 days of sunshine per year and receives up to 6.2KW per hour of solar energy per square meter everyday, which is the highest in the world.

Within the scope of this project, which firmly establishes Fidelis in the international arena of solar power developers, the Company will design and construct a multi-megawatt solar power system that will supply and support the community's energy grid system to meet a consistently increasing demand.

"India represents the first of many untapped solar power markets that Fidelis plans to enter in 2010 and 2011," said James Poole, CEO of Fidelis Energy Inc. "While international projects pose special challenges for solar energy producers, such as identifying proper high voltage lines and the ownership of the property prior to system installation," added Poole, "our unique ability and expertise to overcome such challenges makes Fidelis Energy the natural choice for clients with challenging power needs."

Recognizing the role that solar power will play in the global search for cleaner and more abundant energy sources, Fidelis Energy has built the infrastructure necessary to support this type of international expansion to facilitate the development of large-scale projects at an accelerated pace to support global power needs.

Fidelis Energy will provide the technology, engineering and construction services needed to create the PV Project. ESP has signed a 10-year power purchase and sale agreement with the state's government-owned power distribution company.

"We recognize that the continued use of fossil fuels negatively impacts both the economy and the environment," said Esar Solar Power Chairman Jagdish Singh.

"As such, ESP is determined to meet a portion of India's energy requirements by developing several large solar photovoltaic projects (PV Projects), which will generate electricity from sunlight. Fidelis has shown that it has the ability and innovative construction techniques to execute this contract, and we look forward to this project beginning in May of 2010," added Singh.

"It is the goal of both parties to complete the construction of the five megawatt (5MW) PV Project and start its operations before October of 2010."

In July 2009, India unveiled a $19 billion plan to produce 20 GW of solar power by 2020. Under the plan, solar-powered equipment and applications would be mandatory in all government buildings including hospitals and hotels. On November 18, 2009, it was reported that India was ready to launch its Solar Mission under the National Action Plan on Climate Change, with plans to generate 1,000 MW of power by 2013.