Evergreen Solar Announces $70 Million Sales Agreement with PowerLight Corporation
Evergreen Solar Inc (ESLR) announced its largest sales agreement to date. Evergreen Solar and PowerLight Corporation have entered into a definitive agreement for a guaranteed contract which calls for Evergreen Solar to ship a minimum of $70 million of photovoltaic (PV) modules to PowerLight over the next four years. There are defined options which could increase the value of the shipments in the contract to approximately $170 million. Shipments to PowerLight are scheduled to commence during the first half of 2006. [ more ]
The stock has gapped up over 14% this morning on this news. Cramer from CNBC has been talking about this stock recently as well, which has also generated some interest in the stock. I spent sometime preparing for the trading day today and took a quick glance at this stock last night. It has a solid uptrend but I felt that it was reaching the top of the current trading range so decided to hold off and wait for it to cycle near the trading range lows to enter the stock.
Read more from Mark Anderson at AltEnergyStocks.com
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