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Norway's Renewable Energy Corporation ASA invests NOK210m in new technology centre
Nordic Business Report, Sept 24, 2007
NORDIC BUSINESS REPORT-24 September 2007-Norway's Renewable Energy Corporation ASA invests NOK210m in new technology centre(C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com
Norwegian solar energy technology group Renewable Energy Corporation ASA (REC Group) said on Friday (21 September) that it has decided to invest NOK210m in establishing a new technology centre.
The new technology centre will be located in connection with REC Group's wafer plant in Heroya, Norway, and will focus on "improving future technologies within the wafer area", REC Group said.
"REC has as a target to make solar energy cost-competitive in a large scale without political incentives, and this cannot be accomplished without a continuous focus on innovative new technologies," said Erik Thorsen, president and CEO of REC Group.
REC Group, headquartered in Hovik outside Oslo in Norway, is a producer of solar grade polysilicon, multi-crystalline silicon wafers, and a producer of solar cells and modules. The group has some 1,400 employees and reported revenues of NOK4.33bn in 2006. REC Group is listed on the Oslo Stock Exchange and traded under the ticker REC.
One British pound (GBP) is worth approximately 11.17 Norwegian kroner (NOK).
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