The Renewable Energy Corporation (REC) is a solar power company with headquarters in Norway. REC produces silicon materials for photovoltaics (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.
In 2007, REC decided to build its new worldscale integrated solar manufacturing facility in Singapore, the world’s largest integrated solar manufacturing complex. When completed, the manufacturing complex was planned to incorporate wafer, cell and module production facilities, with a production capacity of up to 1.5 gigawatts (GW).
The development of this site was projected to enable REC’s ability to deliver solar products that can compete with traditional energy sources in the sunny areas of the world without government incentives.
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 with Hydro-Québec for the delivery of electricity at a competitive industrial rate.
All of REC's solar cell and wafer production plants in Norway were shut down permanently in 2011 and 2012 due to weak market conditions and prospects of significant negative cash flow.
Read more about Renewable Energy Corporation: Commercial Agreements, Crisis During 2008-2009, Crisis During 2011 and 2012, See Also
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