Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer of solar power panels, announced it has signed two new long-term sales contracts worth approximately $1 billion.
The first was an agreement signed last week with a U.S.-based installer. The name of the company and the terms of the agreement were not released.
The second agreement was with German-based Ralos Vertriebs GmbH. The contract is valued at approximately $750 million for solar panel deliveries beginning in 2008 and extending through 2013.
The solar panels for these two contracts will be manufactured at the company’s Devens, Massachusetts facility, which will begin production in July, and represent approximately 35% of the expected 160 megawatts (MW) of annual production capacity at Devens through 2013.
In addition to these two new contracts, Evergreen Solar has six other customer contracts with a current total backlog of approximately $850 million, which will primarily be supplied by EverQ, its German-based joint venture.
About Ralos Vertriebs GmbH
The Ralos Group is one of Europe’s leading companies in the field of photovoltaics with subsidiaries in Germany, Spain, Italy, Austria, United Kingdom and Portugal. The Ralos Group is particularly active in the field of large scale solar power plants and they are committed to increase the share of energy production through renewable energy.
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets solar power products using proprietary, low-cost manufacturing technologies. The company’s patented wafer technology, known as String Ribbon, uses significantly less polysilicon than conventional processes. Evergreen’s products provide reliable and environmentally clean electric power for residential and commercial applications globally.
Loading...