Monday, August 15, 2011

More Greenie Solar Power Boondoggles...

From the Stimulus Progress Report:

Evergreen Solar Was Hoping to Hire 90 to 100 People for Its Manufacturing Plant. "Evergreen Solar, the Marlborough-based maker of solar panels, also is hoping to hire 90 to 100 people at a manufacturing plant in Devens, said Gary Pollard, vice president of human resources. The plant, which opened last summer, is expected to employ more than 800 when it reaches full capacity." [Boston Globe, 3/6/09]

Breaking News:

Evergreen Solar files for bankruptcy, plans asset sale

By Greg Turner And Jerry Kronenberg
Monday, August 15, 2011 

I mean, really, who saw this coming, right?

Greg Bialecki, [Deval] Patrick’s economic development czar, defended the administration’s support for the once-promising Evergreen. The state is still trying to recoup about $4 million [of $58 million] in cash from the Marlboro-based company.
“Not every company is going to be successful ... but we still believe the approach of providing business incentives to create and maintain manufacturing jobs in Massachusetts is an important strategy,” he said.
Evergreen — hurt by lower-cost competition in China and plummeting prices for solar panels — also said it will cut more jobs — 65 layoffs in the United States and Europe, mostly through the shutdown of its Midland, Mich., manufacturing facility. That would leave Evergreen with about 68 workers according to a head count listed in the bankruptcy filing.
To cut costs, Evergreen shifted some of its production to Wuhan, China, last year. That joint venture will remain operating subject to financing talks with Chinese investors. [emphasis mine]
Again, I'll say, "Who could have thought way back last year that China could produce solar panels cheaper...?  Who? 

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