Evergreen Solar: Two New Sales Contracts Total Approximately $600 Million

June 20, 2008 – Vol.13 No.13

Evergreen Solar: Two New Sales Contracts Total Approximately $600 Million.

The manufacturer of solar power panels with its proprietary, low-cost String Ribbon (tm) wafer technology has signed long-term sales contracts with US-based groSolar and Germany-based Wagner & Co Solartechnik GmbH. These contracts extend through 2012 and bring the company’s total contractual backlog to approximately $1.7 billion.

The solar panels for these two contracts and the two contracts previously announced in May will be manufactured at the company’s Devens, Massachusetts facility, which will begin panel production in July. These four contracts represent approximately 65 percent of the expected 160MW of annual production capacity at Devens through 2013.

Evergreen Solar also 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.

groSolar focuses on designing, distributing and installing solar electric and solar hot water systems. The company provides residential installation in the northeast and mid-Atlantic states, and commercial installations in California.

Wagner & Co Solartechnik is a PV system integrator based in Germany that serves all the major markets in Europe. The company also develops, manufactures and markets solar-hot water-systems.

Evergreen Solar, of Marlboro, Massacgusetts, 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. (6/18/08)

Links:

groSolar
http://www.groSolar.com

Wagner & Co Solartechnik
http://www.wagner-solar.com

Evergreen Solar
http://www.evergreensolar.com

Disclaimer, Forward-Looking or Safe Harbor Statement on original press release: Yes