Renewable Energy Corporation

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Renewable Energy Corporation asa
Type	Public (OSE: REC)
Founded	1996
Headquarters	Oslo, Norway
Key people	Erik Thorsen, CEO
Industry	Solar Energy
Products	Polysilicon Wafers Solar Cells Solar Modules
Revenue	2.45 billion NOK (2005) [1]
Employees	1,101 (2005)
Website	www.recgroup.com

Renewable Energy Corporation (REC) is a Norwegian solar energy company established in 1996. It is the world's largest producer of solar grade polysilicon, the world's largest producer of wafers for solar applications and a major producer of solar cells and modules. It is the only solar energy company to span the entire value chain, from silicon purification to finished solar module product.

[edit] Business

REC is involved in multiple stages of developing Solar Photovoltaic panels. In 2003 they realized there would be a worldwide shortage of solar-grade polysilicon and bought a plant in Moses Lake, Washington from ASiML. In early 2006, they bought ASiML. REC now controls a dedicated supply of polysilicon which it can use to ensure growth in the rest of the company.

REC produces wafers in its ScanWafer subsidiary, cells in its ScanCell subsidiary, and modules in its ScanModule subsidiary.

REC partnered with QCell and Evergreen Solar in the EverQ company which converts polysilicon into modules. REC supplies polysilicon, QCell provides manufacturing know how, and Evergreen provides a string ribbon manufacturing technology that uses much less silicon than traditional manufacturing technologies.

[edit] Financial Information

REC was listed on the Oslo Stock Exchange on May 9 2006. With a market value of NOK 42 billion (August 22, 2006), it is one of the largest companies in Norway.

[edit] External links

• Corporate website
• REC stock information