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Norway's Renewable Energy Corporation ASA invests SEK74m to further ramp up production in Sweden
Nordic Business Report, June 21, 2007
NORDIC BUSINESS REPORT-21 June 2007-Norway's Renewable Energy Corporation ASA invests SEK74m to further ramp up production in Sweden(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian solar technology company Renewable Energy Corporation ASA (REC) said on Thursday (21 June) that it has decided to further increase the production capacity at its Glava module plant in Sweden.
The plant is currently in the process of upgrading its annual production from 45 MW to 100 MW, but REC has now decided to spend an additional SEK74m to further increase it to around 150 MW per year.
The plant is expected to reach full capacity in the fourth quarter of 2008.
REC, headquartered in Oslo, Norway, is one of the world's largest producers of polysilicons and wafers for solar applications, and also manufactures solar cells and solar modules. The group reported revenues of NOK4,334m in 2006. REC is listed on the Oslo Stock Exchange and traded under the ticker REC.
One British pound (GBP) is worth approximately 11.98 Norwegian kroner (NOK). One British pound (GBP) is worth approximately 13.97 Swedish kronor (SEK).
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