Evergreen Solar (ESLR) Signs $600M In New Contracts
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Evergreen Solar, Inc. (Nasdaq: ESLR) signed two new long-term sales contracts valued at approximately $600 million with United States-based groSolar and German-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.
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