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MARLBORO, Massachusetts, US, July 26, 2006 (Refocus Weekly) Evergreen Solar will sell US$200 million of solar photovoltaic modules to SunEdison over the next five years.
Evergreen Solar, a manufacturer of solar power products with its String Ribbon wafer technology, says it is its largest sales agreement to date. The sales agreement with SunEdison is its fifth major contract since November 2005, with a total value of $600 million over five years.
The PV modules will be manufactured at Evergreen Solar's plant in Massachusetts and at its new 30 MW EverQ factory in Thalheim, Germany.
“This agreement with SunEdison underscores the growth potential of our photovoltaic module product line and aligns our company with an emerging solar power leader,” says Richard Feldt of Evergreen Solar. “The agreement also demonstrates the strategic importance of EverQ - our partnership with Q-Cells and Renewable Energy Corporation.”
The company recently announced its intention to expand EverQ's capacity to 80 MW next year and up to 300 MW by 2010.
“SunEdison simplifies solar development projects by offering clients access to the company's innovative Solar Power Service Agreement, a finance and service model that allows public, private and nonprofit organizations to buy and use solar electricity generated at their facilities without capital investment,” adds Feldt. “This innovative platform enables wider access to solar power and supports Evergreen's ultimate goal of converging the cost of solar power with retail grid pricing.”
“SunEdison's strategic partnership with Evergreen Solar, a solar power technology innovator, will be integral to our larger goal of building more efficient, more cost-effective systems that create value for our customers,” explains Brian Jacolick of SunEdison. “We believe Evergreen Solar will be a valuable long-term partner and we look forward to working with the company over the next five years to spread the benefits of affordable solar power.”
SunEdison of Baltimore, Maryland, provides solar energy below current retail utility rates to a diverse client base, from public agencies to private enterprises to non-profit organizations.
Evergreen Solar develops, manufactures and markets solar products using its proprietary low-cost manufacturing technologies. Its patented crystalline silicon technology, String Ribbon, uses significantly less silicon than conventional approaches.
EverQ's existing solar module manufacturing plant in Thalheim produces Evergreen Solar's Spruce Line of photovoltaic panels. EverQ is a strategic partnership of Evergreen Solar, Q-Cells of Germany and Renewable Energy Corporation of Norway. Q-Cells is the world's largest independent manufacturer of crystalline silicon solar cells and Renewable Energy Corp is one of the world's largest manufacturers of solar-grade silicon and multicrystalline wafers.
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