Norway's Renewable Energy Corporation ASA signs USD300m silicon wafers supply agreement with US photovoltaic cells manufacturer Suniva Inc

Norwegian solar technology company Renewable Energy Corporation ASA (REC Group) (OSE: REC) said on Wednesday (25 June) that its subsidiary REC Wafer has secured a long-term contract to supply mono-crystalline silicon wafers to the US photovoltaic cells manufacturer Suniva Inc.

Valid until 2013, the contract is valued at over USD300m.

Deliveries will begin in 2009.

REC Group has since 2006 signed contracts for over NOK30bn.

REC Group, headquartered in Oslo, Norway, is the world's largest producer of polysilicon and wafers for solar applications, and a leading producer of solar cells and solar modules. The group has employees and reported revenue of NOK6.64bn in 2007.

One British pound (GBP) is worth approximately 10.18 Norwegian kroner (NOK).