Evergreen Solar Signs Contracts For More Than 160 Megawatts

SOLAR DAILY

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by Staff Writers
Marlboro MA (SPX) Oct 21, 2008
Evergreen Solar has announced it has signed two new long-term sales contracts totaling more than 160 MW. The first is with Mainstream Energy Corporation and AEE Solar, a leading wholesale distributor in North America; the second contract is with, one of the top-tier general trading companies in Japan.

The combined contracts extend the company's total contractual backlog to more than 1 GW. Shipments under these contracts will begin in 2009 and continue through 2012.

The solar panels for these two contracts will be produced at the company's Devens, Massachusetts, facility and at the company's next factory. With these contracts, the Devens facility has now sold 100 percent of its 160 MW manufacturing capacity from 2010 and beyond.

"Despite the current uncertainty in the financial markets and concerns regarding the availability of credit to fund major projects, the demand for our products among our customers remains strong." said Richard M. Feldt, Evergreen Solar's chairman, president and chief executive officer.

"We are one of Evergreen Solar's oldest and longest-running partners. We view them as a solar technology pioneer that has made and continues to make considerable strides in improving cell efficiencies, and more importantly, lowering the overall cost of solar power" said David Katz, chief executive officer of AEE Solar.

"We are excited about strengthening our relationship with Evergreen Solar by increasing the supply of their high-quality solar panels to help with the increasing demands of our installer network."

AEE Solar will market the panels in the United States and Canada through its extensive dealer network. Evergreen Solar's other new customer is expected to market the panels globally.

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San Diego CA (SPX) Oct 21, 2008
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