Exhibit 10.5
 SHARE LENDING AGREEMENT
   Lender
  Borrower  Borrowing Agent
     Business Day
 Capped Call Confirmation
 Cash
 Clearing Organization
 Closing Price
 Collateral




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Collateral Account
 Collateral Agent Section 4
 Common Stock
 Convertible Securities Option
 Credit Downgrade S&P Moodys
 Credit Upgrade
 Delivery Time
 Exchange Act
 Facility Termination Date Section
5(b)
 Guarantor
 Initial Closing Date
 Lenders Designated Account
 Loan Availability Period
 2




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Loaned Shares provided Loaned Shares
 Market Value
 Maximum Number of Shares
   3




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Section 5(a) provided Unsold Amount
 Section
5 Section
11(c)
  Non-Cash Collateral provided
 Price provided provided further
 Securities Act
 4




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Securities Intermediary
 UCC
 Underwriting Agreement
 Loans of Shares; Transfers of Loaned Shares; Guarantee.
 Loan
  Borrower Group provided Section 2(c)
 Exhibit A
 Loan Fee.
 Loan Fee Section 2(b)
 5




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Section 2(c)
 Collateral Provisions.
 Pledge
Date
 Sections 11(c)(ii) 11(c)(iii)
  Section 5
 6




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Section 12
 Section
4 Section 4
 provided
       7




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Collateral Deficit
 Collateral Excess
 provided provided further
 Loan Terminations.
  Section 11 Section
15 Facility Termination Date
 8




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Section 11 Section 10 Section
10
 Section 11
 Distributions.
  Non-Cash Distribution Delivery
Amount provided
 9




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Rights in Respect of Loaned Shares.
  Representations and Warranties.
       Exchange
 10




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Bankruptcy Code
  Section 8
 Covenants.
 provided
  11




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Outstanding
Shares provided
 Events of Default.
 Section 10(a)(iii) Section 10(a)(iv) Section 10(a)(iii) Section 10(a)(iv) Default
 Section 5
 Section 6
 Bankruptcy Law
  12




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Section 13
   Section 4
 Right to Extend; Lenders Remedies.
 Section 10 Section 5 Section 5 Section
5 Legal Obstacle Section 5 Repayment Suspension Section 10
 13




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provided Section 10 Section
5 Section 10 Section
5(b) Section 5 Replacement Cash
 Section 10 Section
5(c)
 Section 5 Section 11(a) Section 11(b) Replacement Shares
 14




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provided Section 11(a) Section 11(b) Section 11(c) Section 11
 Transfers.
   Section 12 Section 16
 Indemnities.
  15




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Section 8
 Section 8
 Section 13 Indemnifying Party Indemnified Party provided Section 13 provided
 Section 13
 Netting and Set Off.
  16




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Termination of Agreement.
  Section
13
 Notices.
    
  
  Governing Law; Submission To Jurisdiction; Severability.
   17




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Counterparts.
  Amendment.
  Delivery of Shares.
 Original Delivery Date
 Registration Provisions.
  18




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Section 21
 19




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EVERGREEN SOLAR, INC.,
    
    LEHMAN BROTHERS INTERNATIONAL (EUROPE),as Lender
    
    as BorrowerBy: 
Name:
    
    /s/ Michael El-Hillow

Michael El-Hillow
    
    By:
Name:
    
    /s/ Bruce Railton

Bruce RailtonTitle:
    
    Chief Financial Officer and
Secretary
    
    Title:
    
    Authorised SignatoryLEHMAN BROTHERS INC.,as Borrowing AgentBy:
    
    /s/ Arlene SalmonsonName:
    
    Arlene SalmonsonTitle:
    
    Vice President
 Share Lending Agreement




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Exhibit A
 Form of Guarantee