Evergreen Solar Inc., a manufacturer of solar power panels based on proprietary String Ribbon wafer technology, has signed two new long-term sales contracts. Evergreen and Germany-based Ralos Vertriebs GmbH signed an agreement valued at approximately $750 million for panel deliveries beginning this year and extending through 2013. Combined with another agreement signed with a U.S.-based installer, Evergreen has a new contractual backlog totaling approximately $1 billion.
The solar panels for these two contracts will be manufactured at the company's Devens, Mass., facility – which will begin panel production in July – and represent approximately 35% of the expected 160 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 Germany-based joint venture.
SOURCE: Evergreen Solar