C&I, Solar

Evergreen Solar Announces $100 M Sales Agreement

Under a new agreement, Evergreen Solar, Inc. will ship approximately $100 million of photovoltaic (PV) modules to Mainstream Energy over the next four years. This agreement is Evergreen Solar’s sixth major contract in the past 12 months. The value of these six contracts totals more than $700 million over the next five years.

David Katz, president of AEE Solar, a Mainstream Energy subsidiary, said, “We value their commitment to innovation and long-term vision for the industry. We view them as a solar technology pioneer that is making considerable strides in improving cell efficiencies and, more importantly, lowering the overall costs of solar power.” The photovoltaic modules will be manufactured at Evergreen Solar’s plant in Massachusetts and at EverQ’s German factory, which is currently being expanded. EverQ is a strategic partnership between Evergreen Solar, Q-Cells AG of Germany and Renewable Energy Corporation ASA (REC) of Norway. Evergreen Solar is a manufacturer of proprietary, low-cost String Ribbon solar wafer technology; Mainstream Energy, LLC, has systems integration and distribution subsidiaries in sales, distribution and installation of residential and commercial solar electric systems nationwide.