Shares of Evergreen Solar, Inc. (ESLR.OB) Jump on News of Two New Contracts
Evergreen Solar, Inc. (ESLR.OB), a developer, manufacturer and marketer of solar power products that utilize proprietary, low-cost manufacturing technologies, recently announced two new long-term sales contracts. Evergreen Solar and Ralos Vertriebs GmbH, a German-based company, signed a five-year agreement valued at nearly $750 million for panel deliveries, and committed to another deal with a U.S.-based installer. Evergreen Solar currently has a contractual backlog of approximately $1 billion. The solar panels for these two contracts will begin production in July 2008 at the company’s Massachusetts facility, representing nearly 35 percent of the company’s expected 160MW annual production capacity for the next…