Solar energy company REC becomes Norway’s largest privately owned company
Rolleiv Solholm
source: Norway Post
http://www.norwaypost.no/cgi-bin/norwaypost/imaker?id=48547
Renewable Energy Corporation (REC) has grown to become Norway’s largest wholly privately owned company. The Oslo Stock Exchange reports a value increase for the company of 41 per cent since January 1st. REC Group was established in 1996 and is one of the pioneers of the solar industry. It has quickly become one of the world’s leading businesses within solar energy. The company has a presence in all parts of the industry value chain from production of raw material to solar energy products. REC has customers around the the world and over 1,100 employees. REC is the world’s largest producer of solar grade polysilicon, the world’s largest producer of wafers for solar applications, and a significant producer of solar cells and modules. The REC headquarters are located in Oslo.
In order to respond to the continued strong demand for wafers, both from external customers and for own solar cell production, REC has decided to build two new plants for multicrystalline wafers at Heroya in south eastern Norway. The plants, with a combined capacity of approx 650 MW, will be located adjacent to REC’s existing wafer plants and the wafer technology center. Total investments costs are estimated at NOK 2.5 billion. The two new plants will go into production Q4 2008 and Q2 2009 respectively. This expansion further strengthens REC’s leading position in the global solar industry.