1**EXHIBIT 99.4****EverQ GmbH, Thalheim****Notes to the financial statements (Balance Sheet, Income Statement, Cash Flow Statement, Statementof Changes in Equity) for the period from December 20, 2006 to December 31, 2006****1 Organization and industry**EverQ GmbH (the “Company” or “EverQ”) is a producer that focuses on production of solar modulesbased on Evergreen Solar’s String-RibbonTM technology. The Company’s operations are located in Thalheim, Germany.The production of the Company started in the second quarter 2006 and will be further extended in2007.The shareholders of EverQ are Evergreen Solar Inc., USA (“Evergreen”), Renewable Energy CorporationASA, Norway (“REC”), and Q-Cells AG, Germany (“Q-Cells”). The share ownership was as follows:           Up to Dec. 19, 2006 from Dec. 20, 2006Evergreen  64 %  33.33 %Q-Cells  21 %  33.33 %REC  15 %  33.33 %Due to that change the subscribed capital was increased by k€ 230 to k€ 480. Furthermore, theadditional paid in capital was increased by k€ 41,308 to k€ 71,058.The Company is included in the consolidated annual financial statements of the shareholders(Q-Cells; Evergreen: At Equity; REC: proportional).**2 Accounting principles**These financial statements represent financial information prepared in the context of thecontemplated capital increase and the related decrease in ownership by the SEC registrant Evergreenas described above. The financial statements of EverQ GmbH, Thalheim, as of December 31, 2006 andfor the period from December 20, 2006 to December 31, 2006 have been prepared on a basis consistentwith accounting standards of the German Commercial Code (HGB) and the Law on Limited LiabilityCompanies (GmbHG). The financial statements do not constitute annual statutory financial statementsof EverQ GmbH, Thalheim (Germany), pursuant to German commercial law. Hence, these financialstatements do not present the results of the Company’s operations and its cash flows for theCompany’s fiscal year and do not include comparative financial information.

 

2The presentation of the financial statements is in accordance with the general classificationprinciples of § 265 HGB and the classification requirements for the balance sheet in accordancewith § 266 (2) and (3) HGB.The income statement has been prepared according to the total cost approach(“Gesamtkostenverfahren”) in accordance with § 275 (2) HGB.The Company is a large company in terms of § 267 (3) HGB. In 2006, EverQ exceeds the criteria forlarge companies pursuant to § 267 (3) HGB for the first time. Since these criteria are not exceededon December 31, 2006 for two consecutive financial years, the legal consequences for largecompanies pursuant to § 267 (3) do not become effective. Therefore, EverQ makes use of thesize-related relief for the disclosures of small companies pursuant to § 288 HGB.The financial statements are prepared in euro (“€”), information in the notes are rounded to thenearest thousand.**2 Accounting and valuation methods**The financial statements have been prepared taking into account the generally accepted valuationprinciples as stipulated under §§ 252 to 256 HGB and the special valuation principles forcorporations (§§ 269 to 274, 279 to 283 HGB).Intangible assets have been capitalized at acquisition costs less amortization, which has beencalculated using the straight-line method.Property, plant and equipment are stated at cost less accumulated depreciation and impairmentlosses. The cost of self-constructed assets includes the cost of materials, direct labor costs andan appropriate proportion of overheads. Depreciation starts at the beginning of the month when theasset is ready for its intended use. It is accounted for as an expense on a straight-line basis tothe estimated residual value of property, plant and equipment.Borrowing costs on loans used to finance the construction of property, plant and equipment arecapitalized as part of the cost of the asset until such time that the asset is ready for itsintended use.Maintenance and repair costs are recognized as expenses in the period in which they are incurred.Government grants to EverQ for the acquisition of property, plant and equipment are accounted foras deferred income (“special items for investment subsidies”). The grants are released to income ona straight-line basis over the expected useful life of the related assets.

 

3Raw materials and supplies are stated at acquisition or production costs. Hereby, the Company isusing standard costs which include direct costs and directly related factory overhead (inparticular material, payroll, depreciation) based on normal utilization. The standard costs areupdated as necessary. The lower of cost and market principle has been observed.Other assets and cash on banks are stated at nominal value. Receivables are reviewed for impairmentwhen there is objective evidence that the Company will not be able to collect all amounts dueaccording to the original terms of receivables.Accruals are recorded whenever a present obligation (legal or constructive) exists as a result of apast event, in the amounts they are expected to be used. Liabilities are stated at the amountsoutstanding at year-end.Short-term receivables and short-term liabilities denominated in foreign currencies are convertedin euro using the foreign exchange rate as of balance sheet date.**3 Notes to the balance sheet**The analysis of the different fixed asset categories is presented as annex to the notes. Thebalance sheet line A.II.4 Assets under construction and prepayments comprise of prepayments ofk€ 14,494 and assets under construction of k€ 28,361.Receivables due from shareholders are related to trade activities (k€ 14,008) or are otherassets (k€ 255).Other assets primarily result from receivables of investment grants of k€ 23,723 (investmentincentives and subsidies) as well as VAT claims of k€ 1,796 and are short-term.The special line item for investment subsidies and incentives relates to investment grants thathave been granted by the government. The special line item is released depending on thedepreciation pattern of the subsidized assets.Accruals mainly refer to the accrual for invoices outstanding (k€ 5,028) and a warranty accrual(k€ 557). The accrual for warranty expenses amounts to 1.25% of realized revenues. The accrualfor outstanding invoices includes invoices for the period up to December 31, 2006 received but notyet approved.

 

4The maturity of the liabilities is as follows:             Liabilities = < 1 year  > 1 year = Total      < 5 years      k€  k€  k€ to banks  2,000   5,000   7,000 trade payables  6,147   0   6,147 to shareholders  66,898   9,000   75,898 others  473   0   473              75,518   14,000   89,518           The bank loans were secured by liens or similar rights. Collateral was given in connectionwith the receivables of investment grants, equipment and machinery, cash on banks and a mortgageof k€ 22,500.The liabilities due to shareholders refer to trade activities (k€ 5,577) and to loans includingrelated interests (k€ 70,321).The Company’s assets were given as subordinated collateral for one loan granted by a shareholder(k€ 8,000).The loans granted by the shareholders were restructured by long-term shareholder loans at the endof January 2007.**4 Other financial obligations**The Company has incurred financial obligations of:                   = < 1 year  > 1 year =  > 5 years  Total       < 5 years         k€  k€  k€  k€ Long-term material purchases  96,065   148,731   123,666   368,462 Short-term purchases of raw materials  21,834   0   0   21.834 Fixed assets  66,674   0   0   66.674 Services  79   33   0   112 Rental and leasing agreements  16   16   0   32                 184,668   148,780   123,666   457,114              thereof due to shareholders              346,628 Obligations from long-term material purchases relate to a long-term contract for purchases ofsilicon from the REC Group in the years 2007 to 2014 at an amount of k€ 346,628. The contractrequires a one time payment of k€ 66,923 ($ 87 Mio.) which will be due in April 2007.

 

5**5 Sundry information****Employees**The Company has had on average 466 employees.**Managing Directors**Rainer Mohr, CFO, accountant