Solar Firm Confirms New Production Plant In Singapore

Renewable
Energy Corp (REC), one of Norway‘s
most-watched companies, has warmed up to Singapore, where it plans to move
forward with major investment in a new production facility.
    REC’s stock
has risen and fallen dramatically in recent months, while the company has
attracted global attention for the expanding role it’s playing in the solar
industry.
    Now REC has
confirmed that it will invest nearly NOK 13 billion (USD 2.5 billion) in the
first phase of a production complex in Singapore. The Singapore plans
were first revealed last autumn.
    Company
officials said production of solar wafers, cells and modules will begin during
the first quarter of 2010, and reach full capacity by 2012.
    Expected
revenues are estimated at as much as NOK 11 billion in 2012.

 

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