REC makes Norway even more important to world energy
Solar cells turn sunlight into power
Most readers know that Norway is a leading petroleum exporter and many know that it exports electricity to the European grid. But now a Norwegian business is becoming a key actor in an emerging energy source: electricity from solar-cells. Renewable Energy Corporation (REC Group) is the company and REC’s exciting technologies are the basis for its rapid expansion. Electricity from the sun has been around for many years, usually seen as solar powered gadgets at remote locations. Currently, however, we are witnessing many examples of consumers adding a supplemental electricity source by bringing their house or business into the solar age. This now makes economic sense since, as opposed to the general increase in the cost of energy the price photovoltaic systems has come down.
Norwegian REC, established in 1996, is now the industry leader in photovoltaic cell manufacture. In addition to being the largest producer of components for solar cells such as transportable silane gas, polysilicon and wafers for solar applications, it is also a major producer of “ready to mount” 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.
Production facilities in the USA
REC saw the need for increased solar cell production in 2003. Part of their expansion strategy was to buy a plant in Moses Lake, Washington from ASiMI. In late 2005, they bought ASiMI kit and caboodle including the plant located near Butte, Montana. REC has hundreds of employees at each of these locations and now controls a dedicated supply of polysilicon which it can use to ensure growth in the rest of the company.
REC was listed on the Oslo Stock Exchange on May 9, 2006 (REC, OSE).
This article was also published in the Norwegian American Weekly.