Evergreen Solar (ESLR) Gets $1.2B Contract with IBC Solar

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08:04:29 am on July 15, 2008

Evergreen Solar (ESLR) announced the largest contract in it’s history an hour ago.  It’s a long term contract of $1.2B with German based IBC Solar and extends through 2013 which brings the total contractual backlog to $3 billion with 5 different customers.

“We are very pleased to begin this significant long term relationship with IBC SOLAR, the largest PV distributor in the world”, said Richard M. Feldt, Evergreen Solar’s chairman, president and chief executive officer. “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.”  Good news for the solar industry indeed!

Shares up about 10% premarket.

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