Evergreen Solar gets $1.2b contract, its largest ever

Marlborough solar-panel maker Evergreen Solar Inc. today said it has signed a sales contract with Germany's IBC Solar AG worth $1.2 billion - the biggest deal in the company's history.

Evergreen will make the solar panels at a recently opened plant in Central Massachusetts and at another factory expected to open in 2010. The deal runs through 2013.

(The photo at right is taken from the company's website. It shows a school in Germany that installed Evergreen solar panels on its roof, according to the photo's caption information.)

Evergreen said the contract with German-based IBC brings its backlog to almost $3 billion, spread among five customers.

"This contract represents the single largest contract in the history of our company and is one of the largest contracts ever between a panel manufacturer and a distributor," said Richard M. Feldt, Evergreen Solar's chairman, president, and chief executive. (AP)