Renewable Energy Corporation ASA (REC.OL), one of the world’s largest
producers of polysilicon and solar panels, will invest up to NOK 400
million to upgrade and extend the production capacity at its existing
plants in Herøya, Norway by approximately 100MW. That should ensure
total wafer production out of Norway of around 1.75 gigawatts (GW) in
2011, the company said.
In addition to the capacity contribution, the investment will
also cover an upgrade of the plants (referred to as Herøya I and II) to
enable the implementation of next generation wafer and wire thickness
levels.
"This project provides very attractive financial returns by
adding capacity at the same time as closing the technology gap between
the older existing plants and the new plants currently under
construction", says EVP Wafer Ingelise Arntsen.
Construction is scheduled for start-up towards the end of 3Q08,
with ramp-up of the additional production capacity towards the end of
2009.
Earlier this week, REC announced plans to build a US$2.6 billion integrated facility for solar wafers, cells and modules in Singapore.
About REC
REC is uniquely positioned as one of the most integrated
companies in the solar energy industry. REC Silicon and REC Wafer are
the world’s largest producers of polysilicon and wafers for solar
applications. REC Solar produces solar cells and solar modules and
engage in project development activities in selected segments of the PV
market. REC Group had revenues in 2007 of NOK 6,642 million and an
operating profit of NOK 2,588 million.
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