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Evergreen Solar Extends Exchange Offers And Consent Solicitation To February 11, 2011

Evergreen Solar, Inc. (NasdaqCM: ESLR), a manufacturer of String Ribbon ® solar power products with its proprietary, low-cost silicon wafer technology, announced today that it has extended the expiration date for its offers to exchange (i) an aggregate principal amount of up to $100,000,000 of new 4.0% Convertible Subordinated Additional Cash Notes due 2020, or the new 4% notes, for an aggregate principal amount of up to $200,000,000 of its 4.0% Senior Convertible Notes due 2013, or the existing 4% notes, and (ii) an aggregate principal amount of up to $165,000,000 of new 7.5% Convertible Senior Secured Notes due 2017, or the new 7.5% notes, for an aggregate principal amount of up to $165,000,000 of its 13.0% Convertible Senior Secured Notes due 2015, or the existing 13% notes, and the related consent solicitation.

The new expiration date for the offer and consent solicitation is 5:00 p.m., New York City time, on Friday, February 11, 2011.

Based on a preliminary count provided to the Company by the exchange agent, as of 11:59 p.m., New York City time, on February 9, 2011, holders of approximately $64 million aggregate principal amount of the existing 4% notes (or approximately 26% of the existing 4% notes outstanding) had tendered for exchange, and holders of approximately $79 million aggregate principal amount of the existing 13% notes (or approximately 48% of the existing 13% notes outstanding) had tendered for exchange and had delivered consents to the proposed amendments to the indenture governing the existing 13% notes.

As previously announced, at a meeting of the Company’s stockholders held yesterday, February 9, the Company’s stockholders approved the specific terms of the proposed exchange offers as required by Nasdaq Marketplace Rule 5635. As such, the Company will either close the current exchange offers on Friday, February 11 at 5:00pm, New York time, or terminate the offers if their respective conditions are not met.

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