$100 Million Sales Agreement To Distribute Modules

Posted by SI Staff on October 16, 2006 No Comments
Categories : FYI

Marlboro, Mass.-headquartered Evergreen Solar Inc., a manufacturer of solar power products, has entered into a four-year supply contract with Mainstream Energy LLC, which has subsidiaries involved in the sale, distribution and installation of residential and commercial solar electric systems nationwide.

Under the terms of the agreement, Evergreen Solar will ship approximately $100 million of photovoltaic (PV) modules to Mainstream Energy over the next four years. The modules, which are made up of String Ribbon crystalline silicon technology, will be manufactured at Evergreen Solar's Massachusetts plant and at EverQ's German factory.

‘Mainstream Energy will play a significant role in our effort to further penetrate the U.S. marketplace,’ says Terry Bailey, Evergreen Solar's senior vice president of marketing and sales. ‘The size of the deal also reflects our confidence in achieving our current expansion plans and is further affirmation of the prospects for our String Ribbon technology.’

The agreement is Evergreen Solar's sixth major contract in the past 12 months – totalling more than $700 million over the next five years, the company adds.

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