By Vandana Gombar
June 14 (Bloomberg New Energy Finance) -- Fidelis Energy Inc. said it expects to secure additional funding within the month for its $25 million solar photovoltaic project, which is being developed in partnership with India’s Esar Solar Power.
“The company is currently in negotiations with six separate entities interested in additional funding for this project,” Fidelis Chief Executive James Poole said in a statement to shareholders. “Three of these are well known financial institutions looking for solar projects and the other three are very well known solar companies. Management feels that a letter of intent from one or more of these sources could be signed within the next 15 days.”
The company had already secured $30 million in funding from Empres Voss Capital of Switzerland in January.
The project to generate 5 megawatts of electricity near Jaisalmer in Rajasthan state is part of a larger 100-megawatt facility in the Thar desert... read more
Copyright © 2010 Bloomberg L.P.
Monday, June 14, 2010
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