Evergreen Solar approved for EverQ partnership
Evergreen Solar Inc. in Marlboro announced today that regulatory authorities in Germany have approved partnership agreements making Evergreen, Q-Cells AG, and Renewable Energy Corp. ASA equal partners in its EverQ operation, which manufactures solar modules in Thalheim, Germany.
All three partners will share equally in the net income generated by EverQ. The new partnership intends to grow the EverQ business to approximately 10 times the size of its first facility. The proposed growth would translate to 300MW of solar production by 2010. EverQ's first factory reached a full production capacity of 30MW in Q3 of 2006.
The second factory is expected to begin production in the second quarter of 2007, and will reached its full capacity of 60MW by the end of 2007, bringing EverQ's total capacity to 90MW.
Evergreen Solar Inc. develops, manufactures, and markets solar power products.
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