Exhibit 10.32
  (IBC LOGO)(EVERGREEN LOGO)
 EXECUTION COPY
 MASTER SUPPLY AGREEMENT
 Agreement Effective Date Evergreen Purchaser
 
 1. DEFINITIONS
 Affiliate
 Flash Test Data Schedule 4
 Listed Port Schedule 1
 Purchase Order
 Product Schedule 2
 Quarter




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Specifications Schedule 2
 Termination Date Schedule 1
 Territory Schedule 1
 User Documentation
 2. SCOPE
  3. ANNUAL AND QUARTERLY COMMITMENTS
 Annual Commitments Schedule 1
 Quarterly Commitments.
 -2-




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Product Type Allocation.
 Additional Orders
 4. PURCHASE ORDERS
 In General.
 Placement of Orders and Acceptance.
 Shipment Date and Rescheduling.
 -3-




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Placement of Orders by Affiliates.
 5. PROVISION OF DATA
 End User Statistics and Performance Data
 Flash Test Data.
 -4-




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6. SHIPMENT
 Shipment.
 Packaging and Inspection.
 7. PRODUCT CHANGES
  8. PRICES AND PAYMENT
 Product Prices. Schedule 1 Schedule 1
 Taxes. Schedule 1
 Payment.
 -5-




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9. TERRITORY
  10. TERM AND TERMINATION
 Term. Schedule 1
 Termination for Cause.
 Effect of Termination.
 No Liability for Termination.
 -6-




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11. INTELLECTUAL PROPERTY
 Ownership by Evergreen.
 Improvements. Improvement
 User Documentation.
 Trademarks. Trademarks
 Proprietary Notices.
 -7-




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No Implied Licenses.
 12. CONFIDENTIALITY
 Confidential Information. Confidential Information
 Exclusions.
 Use and Disclosure.
 Confidentiality of Agreement.
 -8-




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Publicity.
 13. WARRANTY SERVICES
 Limited Product Warranty. Schedule 3 Schedule 3
 Warranty Claims.
  -9-




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Limitations.
 14. PRODUCT QUALITY INSPECTION
 Schedule 5 Schedule 5
  15. INDEMNIFICATION
 Infringement Indemnification by Evergreen.
 -10-




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Indemnification by Purchaser.
 Procedure. Indemnifying Party s Indemnified Party
 16. LIMITATION OF LIABILITY
  -11-




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17. GENERAL
 Relationship
 Governing Law; Dispute Resolution
 Export Laws
 -12-




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Notices
 Force Majeure
 Assignment
 Language
 Miscellaneous
  -13-




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Evergreen Solar, Inc.
    
    
    
    IBC SOLAR AGBy:
    
    /s/ Richard M. Feldt
    
    
    
    By:
    
    /s/ Udo MohrStedtName:
    
    Richard M. Feldt
    
    
    
    Name:
    
    Udo MohrStedtTitle:
    
    Pres. & CEO
    
    
    
    Title:
    
    Pres. & CEODate:
    
    July 11, 2008
    
    
    
    Date:
    
    July 14, 2008
  
 -14-




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Schedule 1
 Additional Terms
 Territory:
  Product Applications:
  Supply Period:
 Termination Date
 Listed Ports:
  Firm Commitment Quantities:
 Jan. 1,
    
    Dec. 1
    
    Dec. 1
    
    Dec. 1
    
    Dec. 1
    
    Dec. 12008 to
    
    2008 to
    
    2009 to
    
    2010 to
    
    2011 to
    
    2012 toNov. 30,
    
    Nov. 30
    
    Nov. 30
    
    Nov. 30
    
    Nov. 30
    
    Nov. 30Shipment Period
    
    2008
    
    2009
    
    2010
    
    2011
    
    2012
    
    2013Firm Quantity (MWp)
    
    
    [****]
    
    
    
    [****]
    
    
    
    [****]
    
    
    
    [****]
    
    
    
    [****]
    
    
    
    [****]
 Wp
 MWp 6




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Prices:
  Scheduled Price
 Jan. 1,
    
    Dec. 1
    
    Dec. 1
    
    Dec. 1
    
    Dec. 1
    
    Dec. 12008 to
    
    2008 to
    
    2009 to
    
    2010 to
    
    2011 to
    
    2012 toNov. 30,
    
    Nov. 30
    
    Nov. 30
    
    Nov. 30
    
    Nov. 30
    
    Nov. 30Shipment Period
    
    2008
    
    2009
    
    2010
    
    2011
    
    2012
    
    2013White Back Skin
    
    
    [****]
    
    
    
    [****]
    
    
    
    [****]
    
    
    
    [****]
    
    
    
    [****]
    
    
    
    [****]
 Price Adjustments:




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Schedule 2
 Products
 Product 1 (proposed ES-A Series) PV Panel Description/Specifications :
 n
    
    Configuration: 6 x 19 standard Evergreen cell configuration; planned
200 Wp to 220 Wp class panel.n
    
    Panel Rated Minimum Power and Tolerance: Product power tolerance
specification for ES-A Series or equivalent Products will be -0% to +4.99Wp.n
    
    Safety and quality certifications: Product electrical characteristics
are based on the results of production line test performed at the MC connectors in
accordance with IEC 904-1 at Standard Test Conditions (1000 W/m2 with IEC904-3
reference solar spectral irradiance distribution, AM1.5 and 25C). Evidence of
certification per IEC 61730, UL or ETL listing to UL standard 1703 of the foregoing
shall be provided to Purchaser prior to first Shipment. IEC 61215: 2005 and CE
declaration, as applicable.n
    
    Cables, Frame Grounding, Glass: Cables will be standard MC or accepted
equivalent, and frame grounding holes will be located on the side of the panel frame.
Glass will be non-glare, rolled type.
 OEM Product




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Schedule 3
 Warranty
   Limited Warranty: Materials or Workmanship
  Limited Warranty: Power Output
 80%
 2




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Limitations and Conditions
           Obtaining Warranty Performance
   Note:
    
    This document may be provided in multiple languages. If there is a conflict among
versions, the English language version dominates.




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Schedule 4
 Flash Test Data Sample
 (EVERGREEN LOGO)
    
    Panel Test Data Report for Pallet: xxx-yyyyyy
 
 Item #
    
    Serial #
    
    Pallet ID
    
    Product ID
    
    Date Tested
    
    Isc (A)
    
    Imp (A)
    
    Voc (V)
    
    Vmp (V)
    
    Pmax (W)1
    
    4901200702190000214
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 10:53
    
    7.9
    
    7.1
    
    32.2
    
    25.3
    
    178.32
    
    4901200702190000247
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 11:44
    
    7.9
    
    7.2
    
    32.2
    
    25.7
    
    184.13
    
    4901200702190000244
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 11:40
    
    7.7
    
    7.1
    
    32.3
    
    25.8
    
    183.14
    
    4901200702190000195
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:05
    
    7.8
    
    7.1
    
    32.4
    
    25.9
    
    185.35
    
    4901200702160000375
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:15
    
    7.8
    
    7.2
    
    32.2
    
    25.6
    
    183.86
    
    4901200702190000252
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:02
    
    8.0
    
    7.2
    
    32.5
    
    26.0
    
    185.87
    
    4901200702160000376
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:14
    
    7.8
    
    7.1
    
    32.3
    
    25.8
    
    182.48
    
    4901200702190000255
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:13
    
    7.9
    
    7.1
    
    32.2
    
    25.5
    
    181.49
    
    4901200702190000258
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:19
    
    7.9
    
    7.1
    
    32.4
    
    26.0
    
    183.910
    
    4901200702190000250
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:00
    
    7.9
    
    7.1
    
    32.4
    
    26.0
    
    184.111
    
    4901200702190000194
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:06
    
    7.9
    
    7.2
    
    32.4
    
    25.8
    
    186.112
    
    4901200702190000260
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:23
    
    7.8
    
    7.1
    
    32.2
    
    25.5
    
    181.013
    
    4901200702190000261
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:24
    
    8.0
    
    7.2
    
    32.5
    
    26.0
    
    186.114
    
    4901200702190000262
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:25
    
    8.0
    
    7.1
    
    32.0
    
    25.5
    
    181.515
    
    4901200702190000254
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:12
    
    7.9
    
    7.1
    
    32.3
    
    25.3
    
    180.216
    
    4901200702190000264
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:27
    
    7.8
    
    7.1
    
    32.2
    
    25.3
    
    181.117
    
    4901200702190000249
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 11:47
    
    8.1
    
    7.1
    
    32.3
    
    25.8
    
    184.018
    
    4901200702190000232
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 11:20
    
    8.0
    
    6.8
    
    32.3
    
    26.0
    
    178.019
    
    4901200702190000263
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:36
    
    8.0
    
    7.1
    
    32.5
    
    26.1
    
    185.820
    
    4901200702190000205
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 11:53
    
    8.0
    
    7.2
    
    32.4
    
    25.4
    
    183.121
    
    4901200702190000236
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 11:24
    
    7.9
    
    7.1
    
    32.0
    
    25.4
    
    179.522
    
    4901200702190000274
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:51
    
    7.9
    
    7.0
    
    32.3
    
    26.3
    
    183.923
    
    4901200702190000277
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:55
    
    7.8
    
    7.1
    
    32.2
    
    25.4
    
    180.624
    
    4901200702190000283
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 13:03
    
    8.0
    
    7.2
    
    32.4
    
    25.8
    
    184.925
    
    4901200702190000267
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 12:34
    
    7.9
    
    7.1
    
    32.1
    
    25.8
    
    182.926
    
    4901200702190000286
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 13:07
    
    8.1
    
    7.2
    
    32.0
    
    25.1
    
    179.627
    
    4901200702190000285
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 13:05
    
    7.7
    
    7.1
    
    32.0
    
    25.7
    
    182.928
    
    4901200702190000306
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 13:52
    
    8.1
    
    7.1
    
    32.1
    
    25.5
    
    181.129
    
    4901200702190000305
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 13:46
    
    7.9
    
    7.2
    
    32.3
    
    25.8
    
    185.330
    
    4901200702190000297
    
    xxx-yyyyyy
    
    ES-180-RL-K
    
    2/19/2007 13:39
    
    7.9
    
    7.1
    
    32.0
    
    25.5
    
    181.3




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Schedule 5
 (EVERGREEN 2 LOGO)
    
    ES-Series Panels  Classification Criteria




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(EVERGREEN 2 LOGO)
    
    ES-Series Panels  Classification Criteria




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ADDENDUM TO MASTER SUPPLY AGREEMENT
 Addendum Agreement Evergreen Purchaser
 1. SCOPE OF ADDENDUM
 OEM Products
 2. BRANDING OF OEM PRODUCTS
 Evergreen Trademark Usage.
 Powered by Evergreen Solar ® Evergreen
Tagline ®
 String Ribbon ®
 Purchasers Branding Obligations.




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Evergreens Labeling Obligations.
 Evergreen Approval.
 3. WARRANTY SERVICES FOR OEM PRODUCTS
 Warranty Modifications.
 Limited Product Warranty. Schedule 3 Evergreen Warranty Statements  Schedule 3
 -4-




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Warranty Claims.
 Additional Warranty Provisions.
 No Warranty to End Users. End Users
 4. DELIVERY REQUIREMENTS; LABELING; CERTIFICATION
 Installation Manual.
 OEM Product and Packaging Labeling.
 -5-




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Schedule 1
 TÜV Certification.
 5. GENERAL
 e.g.
  -6-




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Evergreen Solar, Inc.
    
    
    
    IBC SOLAR AGBy:
    
    
    
    
    
    By:Name:
    
    
    
    
    
    Name:Title:
    
    
    
    
    
    Title:Date:
    
    
    
    
    
    Date:
 -7-




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Schedule 1
 OEM Product Label Sample