Evergreen Solar Signs Billion-Dollar Contract With IBC SOLAR


Evergreen Solar Inc. has signed a new long-term sales contract, valued at approximately $1.2 billion, with Germany-based IBC SOLAR AG. The contract extends through 2013 and brings Evergreen's total contractual backlog to nearly $3 billion with five customers.

The solar panels for these take-or-pay contracts will be manufactured at Evergreen's new 160 MW facility in Devens, Mass., and at the company's next factory, which is expected to open in 2010.

‘This contract represents the single largest contract in the history of our company and is one of the largest contracts ever between a panel manufacturer and a distributor,’ says Richard M. Feldt, Evergreen's chairman, president and CEO.

SOURCE: Evergreen

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