Evergreen Signs Solar Panel Deals Totaling US $600 Million

Evergreen Solar Inc. announced it has signed two new long-term sales contracts valued at approximately US $600 million. These contracts extend through 2012 and bring the company’s total contractual backlog to approximately US $1.7 billion.

The deals were signed with groSolar and Wagner & Co Solartechnik, respectively GmbH. The solar panels for these two contracts will be manufactured at Evergreen’s Devens, Massachusetts facility, which will begin panel production in July.

“The four multi-year contracts that we have signed in the last 30 days continue to validate that our String Ribbon technology combined with the features and functionality of our solar panel design, provides a compelling value proposition for our customers,” said Richard Feldt, Evergreen Solar’s chairman, president and CEO. “We continue in discussions with other potential customers as we look to commit up to 75% of Devens capacity to long term contracts.”

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