- Renewable Energy Corporation
Infobox_Company | company_name = Renewable Energy Corporation asa
company_type = Public (ose|REC)
company_
company_slogan =
foundation =1996
location =Sandvika ,Norway
key_people = Ole Enger (Chairman of the board),
Erik Thorsen (President and CEO) [cite news |first=Rolleiv |last=Solholm |authorlink= |coauthors= |title=REC secures major wafer sales contract |url=http://www.norwaypost.no/cgi-bin/norwaypost/imaker?id=196366 |work= |publisher=The Norway Post |date=26 September 2008 |accessdate=2008-09-28 ]
industry =Solar energy
products =Polysilicon , wafers, solar cells, solar modules
revenue = NOK 6,642 million (2007)cite web |url=http://www.recgroup.com/default.asp?V_ITEM_ID=2250 |title=Annual Report 2007 |publisher=Renewable Energy Corporation |accessdate=2008-05-27]
operating_income = profit NOK 2,588 million (2007)
net_income = profit NOK 1,333 million (2007)
num_employees = 1,800 (2007)
homepage = [http://www.recgroup.com/ www.recgroup.com]
intl = yesThe Renewable Energy Corporation (REC) is a
solar power company with headquarters inNorway . REC produces silicon materials forphotovoltaics (PV) applications and multicrystalline wafers, as well as solar cells and modules. REC's business activities are organized into three divisions: REC Silicon, REC Solar, and REC Wafer. [ [http://finance.google.com/finance?q=OSL:REC Renewable Energy Corporation ASA] ]REC has decided to build its new worldscale integrated solar manufacturing facility in Singapore, the world’s largest integrated solar manufacturing complex [ [http://www.edb.gov.sg/edb/sg/en_uk/index/news_room/news/20060/renewable_energy_corporation.html Renewable Energy Corporation picks Singapore for world-scale integrated manufacturing complex ] ] . When completed, the manufacturing complex will incorporate wafer, cell and module production facilities, with a production capacity of up to 1.5 gigawatts (GW). [ [http://www.renewableenergyworld.com/rea/news/story?id=50475 Singapore Site of New 1.5 GW Solar Manufacturing Complex] ]
The development of this site will enable REC’s ability to deliver solar products that can compete with traditional energy sources in the sunny areas of the world without governmentincentives. [http://www.edb.gov.sg/etc/medialib/downloads/media_release_2007.Par.0075.File.tmp/New%20manufacturing%20complex%20to%20Singapore_FINAL.pdf]
In August 2008 REC made the decision to build a new facility for silicon manufacturing expansion in Bécancour,
Quebec ,Canada . Included in the decision is a 20-year power contract withHydro-Québec for the delivery of electricity at a competitive industrial rate. [cite news |first= |last= |coauthors= |title=REC to build new silicon facility in Quebec |url= http://www.norwaypost.no/cgi-bin/norwaypost/imaker?id=187216 |work=Norway Post|date=26 August 2008 |language= |accessdate=2008-08-26 ]Commercial Agreements
REC has entered into a significant long-term agreement for supply of
mono-crystalline silicon wafer s toSuniva , Inc. Under the agreement, REC will until 2013 deliver wafers worth more than USD 300 million.REC has also entered into a significant long-term agreement for supply of mono-crystalline silicon wafers to
China Sunergy Co. Ltd. Under the agreement, REC will until 2015 deliver wafers worth more than USD 400 million . It is structured as a contract with pre-determined prices and volumes for the entire contract period . [ [http://www.recgroup.com/default.asp?V_ITEM_ID=611&xml=/R/136555/PR/200806/1231201.xml REC - Press releases ] ]ee also
*Renewable energy companies on the stock exchange
*Economic Development Board (EDB)
*Low cost solar cell
*Take-or-pay contractReferences
External links
* [http://www.recgroup.com/ Corporate website]
* [http://www.oslobors.no/ob/aksje_kursutvikling?menu2show=1.1.2.1.&p_instrid=ticker.ose.REC&p_period=1D| REC stock information]
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