The company noted that, combined with another agreement signed with a US-based installer, it has new contractual backlog of approximately $1 billion.
The solar panels for these two contracts will be manufactured at the company’s Devens, Massachusetts, facility, which will begin panel production in July 2008 and represent approximately 35% of the expected 160MW of annual production capacity at Devens through 2013.
In addition to these two new contracts, Evergreen Solar has six other customer contracts with a current total backlog of approximately $850 million, which will primarily be supplied by EverQ, its German joint venture.
Richard Feldt, Evergreen Solar’s president and CEO, said: 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.
