Fidelis Energy Closes Acquisition Of Spanish Solar Park

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Fidelis Energy Inc. has closed on the acquisition of a stake in a 2 MW solar facility in Spain.

Fidelis previously entered into a binding letter of intent with ASD Lusiona Solar to acquire an 8% stake in its wholly owned subsidiary, ASDR Barranca Solar, which owns the facility. Under the agreement, Fidelis also has an option to buy the remaining stake in ASDR.

Immediately following the acquisition, Fidelis completed a $2.5 million private placement, with private alternative energy investment firm Global Solutions Ltd. funding $1.2 million of the total. The balance of the private placement was funded by management, associates of management and former Fidelis shareholders.

SOURCE: Fidelis Energy Inc.

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