UPDATE 1-Evergreen Solar sees falling prices in second half

* Executives say China expansion on track

* Stick to previous 2010 sales forecast of 175 MW
(Adds share movement, quote, context)

LOS ANGELES, May 5 (BestGrowthStock) – U.S. solar company Evergreen
Solar Inc (ESLR.O: ) said on Wednesday it expects to see some
pricing pressure in the second half of 2010, following forecast
incentive cuts in Germany, the world’s No. 1 solar market.

The government there is set to reduce most of the mandated
prices paid for electricity from German solar arrays starting
in July, with proposed cuts of 16 percent for rooftop panels.

“We think in the second half, prices will drop about half
of the German feed-in tariff. So if it drops 16 percent, we’re
thinking it’s in the 10 percent range,” Richard Feldt,
Evergreen Solar’s chief executive, said on a conference call
with investors.

He added the company’s project to expand operations in
China is proceeding as planned, with expectations to hit the
500 megawatt mark there eventually.

Executives on the call held their 2010 sales forecast
steady at 175 MW.

Evergreen Solar posted a wider-than-expected quarterly loss
and reported revenue and shipments in line with earlier
estimates after the market close on Tuesday. [ID:nN04127453]

Shares of the Marlboro, Massachusetts-based company fell 2
cents or 1.8 percent to $1.11 in early morning trade on the
Nasdaq.

Stock Market Trading

(Reporting by Dana Ford, editing by Gerald E. McCormick)

UPDATE 1-Evergreen Solar sees falling prices in second half