Evergreen Solar, Inc. (NASDAQ: ESLR) has signed a new long-term sales contract of roughly $1.2 Billion with IBC SOLAR AG in Germany. This contract runs through 2013 and brings Evergreen’s total contractual backlog to nearly $3 Billion with 5 customers.
This is a huge contract which we would consider an "up to" amount as these are listed as "take or pay." The solar panels for these take-or-pay contracts will be manufactured at the new facility in Devens, Massachusetts and at Evergreen’s next factory, which is expected to open in 2010.
So far, the company has locked up about 70% of the Devens expected capacity through 2010 and all of the Devens capacity in 2011 through 2013.
Shares were originally halted on the news and yesterday’s close was at $9.16.
Jon C. Ogg July 15, 2008
“The Next NVIDIA” Could Change Your Life
NVIDIA has returned 250-fold in the past 10 years as artificial intelligence took off.
But if you missed out on NVIDIA’s historic run, your chance to see life-changing profits from AI isn’t over.
The 24/7 Wall Street Analyst who first called NVIDIA’s AI-fueled rise in 2009 just published a brand-new research report named “The Next NVIDIA.”
The report outlines key breakthroughs in AI and the stocks ready to dominate the next wave of growth. The report is absolutely free. Simply enter your email below
By providing your email address, you agree to receive communications from us regarding website updates and other offerings that may be of interest to you.
You have the option to opt-out of these emails at any moment. For more information, please review our Disclaimer and Terms of Use.
