Two new long-term sales contracts signed in May 2008 pushed Evergreen Solar’s order backlog past the $1 billion level for the first time. Merely a month later, the pioneer of ‘String Ribbon’ wafer technology has secured another two long-term sales contracts valued at approximately $600 million, taking Evergreen Solar’s backlog past $1.7 billion, a new record for the company. The four announced contracts represent approximately 65 percent of the 160MW of annual production capacity at Evergreen Solar’s Devens production base through 2013, the company said.
“The four multi-year contracts that we have signed in the last 30 days continue to validate that our String Ribbon technology combined with the features and functionality of our solar panel design, provides a compelling value proposition for our customers,” said Richard M. Feldt, Evergreen Solar’s Chairman, President and Chief Executive Officer. “We continue in discussions with other potential customers as we look to commit up to 75% of Devens capacity to long term contracts.”
The new contracts are with U.S.-based groSolar and German-based Wagner & Co. Solartechnik GmbH, running through 2012. Evergreen Solar also has six other customer contracts worth approximately $850 million, which will primarily be supplied by EverQ, its German-based joint venture.