A once-promising clean energy company is shutting down its operations in Devens. As a result, 800 people will lose their jobs.
Evergreen Solar Inc. says it can’t compete with China. CEO Michael El-Hillow says solar cell production costs have gotten so low there that the Devens plant is losing money, even though it’s cutting edge.
It was only two-and-a-half years ago that the Marlborough company opened the Devens plant with $58 million of state aid. But a little over a year ago, Evergreen Solar decided it would move part of its manufacturing to a new facility in China. And recently, the company’s losses meant it struggled to stay listed on the Nasdaq stock exchange.
Closing the plant is also a blow to the Patrick administration, which has defended the incentives it gave Evergreen Solar to build in Devens. Economic Development Secretary Greg Bialecki said the administration is disappointed and will work to recover any money Evergreen owes the state.
The Associated Press contributed reporting.
This program aired on January 11, 2011. The audio for this program is not available.