Sale of assets from the module operation in Glava, Sweden

Sandvika, January 13, 2011: REC has entered into an agreement with Perfekta Solar AB regarding the sale of assets as a consequence of the earlier announced decision to discontinue the module operation in Glava, Sweden. The transaction of SEK 47 million includes the property in Glava and most of the production equipment.


For further information, please contact:

Mikkel Tørud, VP & IRO, phone: + 47 976 99 144

About REC
REC is a leading vertically integrated player in the solar energy industry. REC is among the world's largest producers of polysilicon and wafers for solar applications, and a rapidly growing manufacturer of solar cells and modules. REC is also engaged in project development activities in selected PV segments. Founded in Norway, REC is an international solar company, employing more than 4,100 people worldwide. REC had revenues in excess of NOK 9 billion in 2009. Please visit www.recgroup.com to learn more about REC.