A Midland solar materials factory that was celebrated as an example on how to fuel the alternative energy industry in the state is suspending its operations and taking away about 40 jobs.
Marlboro, Mass.-based Evergreen Solar Inc., which operates a factory in Midland, filed for Chapter 11 bankruptcy Monday in a U.S. Bankruptcy Court in Delaware. In its filing, Evergreen Solar officials said they plan to suspend operations at the Midland plant, which makes high-temperature filaments used in wafers for solar panels.
“The solar power market is intensely competitive and rapidly evolving,” Michael El-Hillow, the company’s chief executive officer, wrote in the filing. “In particular, solar manufacturers in China continue to receive considerable government and financial support and, together with China’s low manufacturing costs, have become price leaders within the industry.”
Read More: Evergreen Solar bankruptcy shows competitiveness of emerging solar industry via mlive.com