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Evergreen Solar gets 2 contracts worth about $600M

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June 18, 2008

MARLBORO, Mass.—Solar panel producer Evergreen Solar Inc. said Wednesday it signed two sales contracts extending through 2012 with a combined value of about $600 million.

The contracts are with White River Junction, Vt.-based groSolar and Germany's Wagner & Co Solartechnik GmbH, which designs and installs solar electric and hot water systems.

The solar panels for the new contracts will be made in Evergreen's Devens, Mass., facility starting in July.

Evergreen Solar said its contractual backlog now stands at $1.7 billion.

Shares jumped $1.37, or 13.4 percent, to $11.56 in after-hours trading. The stock closed at $10.24 in the regular session.

© Copyright 2008 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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