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Friday, February 24, 2006

Evergreen Solar (ESLR) secures 4-year, $100 mil order from Germany's SAG Solartron

Evergreen Solar Secures Large German Solar Order

from RenewableEnergyAccess.com

Marlboro, Massachusetts [RenewableEnergyAccess.com] Evergreen Solar signed a four-year supply contract this week with S.A.G. Solarstrom AG (S.A.G.), based in Freiburg, Germany. The agreement calls for Evergreen Solar to ship approximately USD$100 million of photovoltaic modules to S.A.G. over the next four years.

S.A.G. plans to use Evergreen Solar's products to help satisfy the growing demand from those organizations. These products will be manufactured at Evergreen Solar's plant in Massachusetts and at EverQ's new 30 MW facility in Thalheim, Germany. EverQ is a strategic partnership between Evergreen Solar, Q-Cells AG of Germany and Renewable Energy Corporation ASA (REC) of Norway.

"In this environment of surging demand for solar power products, we believe this will be a strong, mutually beneficial relationship for our two companies," said Richard M. Feldt, Evergreen Solar's president and chief executive officer. "The agreement also provides us with an opportunity to jointly seek additional ways to lower total system costs to the end-user."



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