Evergreen Solar has said that two recently signed long-term sales contracts have resulted in an order backlog above $1 billion. Evergreen Solar has signed a deal with Ralos Vertriebs GmbH for approximately $750 million for PV modules to be supplied from July 2008 through 2013 and another deal with a U.S.-based installer. The new contracts equate to approximately 35 percent of the expected 160MW of annual production capacity at Evergreen Solar’s Devens production plant through 2013.
“We offer our customers a long-term value proposition because our string ribbon technology consumes less than half of the polysilicon as compared to the industry average, which enables us to provide a unique combination of cost and cell conversion efficiency,” said Richard M. Feldt, Evergreen Solar’s President and CEO. “We will enter into selective long-term supply agreements with additional companies that also bring differentiated value to their customers and serve markets that are at the forefront of solar growth.”
Evergreen Solar has six other customer contracts with a current total backlog of approximately $850 million, which will primarily be supplied by EverQ, its Germany-based joint venture.