Partnership Will Help Promote New Rebate Program
January 23, 2008
Evergreen Solar, Inc. (Nasdaq: ESLR), a manufacturer
of solar power products, and NSTAR (NYSE: NST), an
electric and gas delivery company based in Boston,
pledged their support of Governor Patrick’s Commonwealth
Solar program taking effect Wednesday by continuing to
leverage their alliance announced last year to help
accelerate the adoption of solar power throughout
Eastern Massachusetts.
In April of last year, Governor Patrick, NSTAR and Evergreen Solar came together with a vision of creating a robust solar market across the Commonwealth.
Governor Patrick committed to a long term goal of 250MW of installed solar power by the end of 2017
Evergreen announced plans for a major factory expansion in Massachusetts
NSTAR committed to providing its customer base with a program to develop and foster solar power locally
Now, less than one year later, that vision is becoming a reality. The Governor’s Commonwealth Solar program commits $68 million to help defray costs for 27MW of commercial and residential solar installations over the next four years. The Commonwealth Solar program is the first step in fulfilling the Governor’s pledge of installing 250MW of solar power by 2017.
Construction of Evergreen Solar’s 80 MW factory in Devens, which will employ over 375 people, is on schedule to open mid this year and should produce its first panels in the summer. NSTAR, acting as their customers’ “Energy Advisor,” is guiding customers on PV, referring interested parties to PV installers and working with customers and PV installers to ensure safe interconnections with the grid.
“With Governor Patrick’s Commonwealth Solar program taking effect Wednesday, the way is cleared for NSTAR and Evergreen Solar to build on the working relationship we announced in 2007.” said Richard M. Feldt, Chairman, President and CEO of Evergreen Solar. "Our relationship with a utility like NSTAR with their expertise, capabilities and customer relationships to promote cost-effective solar options for consumers can dramatically accelerate solar market delivery throughout the Commonwealth.”
“This partnership is an important part of our ongoing mission to help make solar and other renewable technologies part of the mainstream,” said Tom May, NSTAR Chairman, President and CEO. “With the rebates offered by the Governor’s program, and the technology provided by Evergreen Solar, we can help get more PV panels on the homes and businesses of our customers.”
About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and
markets solar power products using proprietary, low-cost
manufacturing technologies. The Company’s patented
crystalline silicon technology, known as String Ribbon,
uses significantly less silicon than conventional
approaches. Evergreen Solar’s products provide reliable
and environmentally clean electric power for residential
and commercial applications globally. For more
information about the company, please visit
www.evergreensolar.com. Evergreen Solar® is a
registered trademark of Evergreen Solar, Inc
About NSTAR
NSTAR transmits and delivers electricity and natural gas
to 1.4 million customers in Eastern and Central
Massachusetts, including more than one million electric
distribution customers in 81 communities and nearly
300,000 natural gas distribution customers in 51
communities.
