$100 Million Contract for Evergreen Solar (Nasdaq: ESLR)
Evergreen Solar Inc., a maker of solar power products, said today that it received a contract worth up to $100 million to supply solar panels to a German firm that builds power plants. The contract is to provide Solar panels to S.A.G. Solarstrom AG over the next four years.
$100 million contract is no joke for a company with a market cap of under a billion dollars. Although, the company is still not profitable, its been on a great run. I need to do more research into Evergreen Solar since its near it 52-week high.
We still don’t see Solar Panels in daily use in the United States, although, they are pretty common in parts of Europe. I remember seeing Solar Panels everywhere when I visited the Greek Isles in 2001.
A little bit about Evergreen Solar Inc. (Nasdaq: ESLR):
Evergreen Solar, founded in 1994, develops, manufactures and sells solar power products, primarily solar panels, that provide reliable and environmentally clean electric power throughout the world. The three markets the Company serves are: wireless power, rural electrification and grid-connected applications. The Company expects to exploit its proprietary and patented technology to produce distinctive products, to reduce manufacturing costs through lower materials use and streamlined processes, and to manufacture internationally for global market penetration.
The solar panels produced by Evergreen Solar incorporate proprietary crystalline silicon technology known as String Ribbon wafer production, which uses approximately half the silicon and avoids the sawing of conventional approaches.
Check back for more on Solar Energy Stocks and ESLR.
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