Exhibit 10.37
EXECUTION
MASSACHUSETTS DEVELOPMENT FINANCE AGENCY
PROJECT GRANT AGREEMENT
This Project Grant Agreement (the “ Agreement ”) dated as of November 20, 2007, is entered into between
the Massachusetts Development Finance Agency (“ MDFA ”), a Massachusetts body politic and corporate and
a public instrumentality of The Commonwealth of Massachusetts (the “ Commonwealth ”) established under
Chapter 23G of the Massachusetts General Laws as amended (the “ Act ”) , having its principal office and place
of business at 160 Federal Street, Boston, Massachusetts 02110, and Evergreen Solar, Inc., a Delaware
corporation, with a principal place of business at 138 Bartlett Street, Marlborough, Massachusetts 01752 (“
Grantee ”) (MDFA and Grantee are together referred to as the “ Parties ”).
Whereas, MDFA is offering financial assistance to Grantee in the form of the Grant (as hereinafter defined)
to help defray the costs incurred by Grantee in the design and construction of a facility to be located on certain
Land (the “ Premises ”) owned by MassDevelopment to be leased to Grantee, for the design, manufacture and
assembly of products for renewable energy technologies and all related functions, including research and
development and warehousing and administration (the “ Project ”, which term shall exclude the cost of any
equipment or fixtures specific to the manufacturing or other activities of Grantee to be conducted by Grantee on
the Land);
Whereas , MDFA’s provision of such grant funds for use on the Project is consistent with the statutory goals
set forth in the Act and is expected to lead to substantial economic development activity in the Commonwealth,
including without limitation the retention and creation of employment, as more fully set forth in this Agreement;
Whereas, MDFA’s Board of Directors approved the commitment of funds to Grantee for the Project on
August 22, 2007Íž and
Now therefore, pursuant to the terms and conditions of the Agreement, M