REC - Summons of Bondholders Meeting in order to resign a guarantor

Sandvika, October 10, 2011: Renewable Energy Corporation ASA ("REC") has approached the loan trustee of Renewable Energy Corporation ASA Bond Agreement 2009/2014 (ISIN 001 053650.1) (the "Agreement"), Norsk Tillitsmann ASA (the "Trustee"), with a request for the Trustee to convene a bondholders meeting to consider a request for consent to REC ScanCell AS' resignation as a guarantor under the Agreement.

The background for the request is that the boards and management of REC and REC ScanCell AS have recommended assessing a permanent closedown of REC ScanCell AS's operations. Since REC ScanCell AS is a guarantor under the Agreement, the consent of the bondholders under the Agreement is a formal requirement for a final decision with respect to permanent closedown of all of REC ScanCell AS' activities.

Please find the summons attached. Further information can be found on www.stamdata.no

For more information, please contact;
Mikkel Tørud, VP & IRO; +47 976 99 144
Peder Poulsson, Investor Relations Analyst; +47 950 26 311


About REC
REC is a leading vertically integrated player in the solar energy industry. Ranked among the world's largest producers of polysilicon and wafers for solar applications and a rapidly growing manufacturer of solar cells and modules, REC also engages in project development activities in selected PV segments. Founded in Norway in 1996, REC is an international solar company, employing more than 3,900 people worldwide with revenues close to NOK 14 billion in 2010. Please visit www.recgroup.com to learn more about REC.

Summons to Bondholders Meeting
Attachments:
Summons to Bondholders Meeting