Evergreen Solar Inc. (ESLR) said on Thursday that it has reached two long-term sales contracts for solar panels worth a total of about $1 billion.

One of the contracts came from the German-based Ralos Vertriebs GmbH, valued at approximately $750 million, with delivery dates starting this year and ending in 2013.

Another contract was signed by Evergreen last week with a US-based installation company.

Evergreen said that the solar panels under both contracts will be produced at its plant in Devens, Mass., which will begin panel production in July.

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