Evergreen Solar Inc. Files for Bankruptcy
August 18, 2011
Written by Editor, in Green News, Green News Feature, Solar, United States
The Massachusetts company, Evergreen Solar Inc. has filed for bankruptcy. The company received millions in state subsidies such as a $58 million financial aid package from Governor Deval Patrick’s administration. The company listed US$ 485.6 million in debt. The firm failed to rework its debt and cut 800 jobs. Evergreen was devastated by competition from low-cost producers in China.
