|
Evergreen Solar Sends Panel Assembly to China
Evergreen Solar, Inc. (Nasdaq:ESLR) plans to relocate its panel assembly business from Devens, Massachusetts to China in mid-2010, after seeing panel prices drop 30% since mid-2009 due to price competition, Evergreen Chairman, CEO and President Richard M. Feldt said in the company's November 4 earnings announcement. The Devens facility, which opened in mid-2008, is expected to produce 30-35MW each quarter until the transition and continue to manufacture wafers and cells after the relocation, said Feldt. Evergreen shipped 31.3MW in the third quarter from its Devens facility, up 35% quarter-on-quarter.
Evergreen Solar and Wuhan-based module maker Jiawei Solarchina have agreed to invest a combined $450 million in a 500MW solar project that began construction on August 29.
|
