Renewable Energy Corporation

REC Solar Holdings AS
Company typePublic (Allmennaksjeselskap)
OSE: REC
IndustrySolar energy
Founded1996; 28 years ago (1996) in Oslo, Norway[1]
Headquarters20 Tuas South Avenue 14,
ProductsPolysilicon, wafers, solar cells, solar modules
RevenueNOK 13.78 billion (2010)[3]
NOK 1.018 billion (2010)[3]
NOK 989 million (2010)[3]
Total assetsNOK 36.87 billion (end 2010)[3]
Total equityNOK 22.15 billion (end 2010)[3]
Number of employees
4,200 (end 2010)[3]
ParentReliance New Energy Solar
Websitewww.recgroup.com

The Renewable Energy Corporation (REC) is a solar power company with headquarters in Singapore. REC produces silicon materials for photovoltaics (PV) applications and multicrystalline wafers, as well as solar cells and modules. It is a wholly-owned subsidiary of Reliance New Solar Energy Limited.

The previous parent company of REC was ChemChina, one of the largest chemical companies and state-owned by the People's Republic of China, which held its stake in Elkem since 2015 through the China National Bluestar Group.[4] The purchase price was 490 million euros.[5] On 10 October 2021, Indian conglomerate Reliance Industries announced that its subsidiary, Reliance New Solar Energy Limited, had acquired complete control of REC from China National Bluestar Group for US$771 million.[6][7][8]

  1. ^ "Norwegian solar energy company REC Group becomes part of Reliance Industries Ltd. and accelerates its expansion". REC Group. 10 October 2021. Retrieved 31 October 2021.
  2. ^ "Contact". REC. Retrieved 31 October 2021.
  3. ^ a b c d e f "Annual Results 2010" (PDF). Renewable Energy Corporation. Retrieved 10 February 2011.
  4. ^ Eco-Business (December 2014). "REC Solar to combine with Elkem after US$640m Chinese buyout". Eco-Business. Retrieved 17 May 2020. {{cite web}}: |last= has generic name (help)
  5. ^ "Rec Solar: Aktionäre nicken Verkauf an Chinesen ab". www.solarbranche.de. Retrieved 17 May 2020.
  6. ^ "Norwegian solar energy company REC Group becomes part of Reliance Industries Ltd. and accelerates its expansion". REC Group (USA). 10 October 2021. Retrieved 30 October 2021.
  7. ^ "Ambani Accelerates Push Into Green Energy With Solar Deals". Bloomberg.com. 10 October 2021. Retrieved 30 October 2021.
  8. ^ Team, BS Web (10 October 2021). "RIL's renewable energy arm buys REC Solar Holdings in $771 mn deal". Business Standard India. Retrieved 30 October 2021.