Jiawei Solar to manufacture String Ribbon wafers and solar panels for Evergreen Solar

Jiawei Solarchina Co., Ltd. has got agreements finalized with Evergreen Solar, Inc. and the Wuhan Government's Hubei Science & Technology Investment Co., Ltd. ("HSTIC").

Jiawei's Wuhan facility will be the manufacturing site Evergreen Solar's String Ribbon wafers using Quad furnaces. At the same time Jiawei will be converting the String Ribbon wafers into Evergreen Solar panels on a contract basis. Jiawei's cell, panel conversion cost and manufacturing cost will be paid by Evergreen Solar. While the price paid to Jiawei will be negotiated and renewed annually.

$17 million of cash and equipment will be invested by Evergreen Solar into the Wuhan String Ribbon operations. HSTIC would provide $33 million of 7.5% financing to Evergreen Solar. However they must repay HSTIC no later than July 2014. Jiawei will also make similar investments for cells and panels operations with support of HSTIC.

The capacity initially will be approximately 100MW. Construction of the factories has begun and wafer, cell and panel production is expected to start off in spring 2010. Both parties are determined to expand their capacity of their own to 500MW, in terms of their manufacturing operations by 2010.

Dynamic Green Energy, Ltd, Jiawei's parent company and Evergreen Solar have agreed to exchange warrants representing 1% of their outstanding shares. These warrants will have a five-year term and may be exercised for 20% of the warrant shares for each incremental 95 MW of production capacity achieved.

"Our ability to achieve high quality yield and manufacturing experiences with worldwide customers enable us to assist Evergreen Solar to achieve value and dependability solar energy solutions." commented KongXian Ding, President and CEO of Jiawei Solar.?

About Jiawei Solarchina Co., Ltd.
Jiawei Solarchina Co., Ltd., is a fully integrated manufacturer of solar products serving OEM and ODM customers worldwide, including SunPower Corporation. Jiawei offers its global customers with high performance solar products for a broad range of applications including residential and commercial end-users for off-grid and on- grid applications. The Company is committed to providing its world- class customer base with innovation, manufacturing excellence and superior product quality. For more information about Jiawei Solar, please visit www.solarchina.com.hk.

About Evergreen Solar, Inc.
Evergreen Solar, Inc. develops, manufactures and markets String RibbonTM solar power products using its proprietary, low-cost silicon wafer technology. The Company's patented wafer manufacturing technology uses considerably less polysilicon than conventional processes. 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 SolarTM and String RibbonTM are trademarks of Evergreen Solar, Inc.

About Hubei Science & Technology Investment Co., Ltd.
Hubei Science & Technology Investment Co., Ltd. ('HSTIC') is a state owned investment company focused on science and technology development with registered capital of approximately 2.8 billion of RMB ($410M USD). HSTIC is composed of the Administrative Committee of Wuhan East Lake High-Tech Development Zone and its holding company, Optics Valley Investment Company, Hi-Tech Productivity Enhancement Center and Overseas Scholar Incubation Company. The Hubei state government and Wuhan city government have announced HSTIC will manage 10 billion RMB funded by the National Development Bank to develop central China. According to Hubei state government's planning, 6 billion of RMB will be dedicated to Wuhan East Lake High-Tech Development Zone.

For more information please contact press@solarchina.com.hk