REC receives USD 27 million compensation under a silane gas take or pay contract

Sandvika, February 22, 2013: Renewable Energy Corporation ASA (REC) has received USD 27 million cash compensation from a silane gas customer. Part of the amount is a compensation for volume commitments under a take or pay contract not being fully met by the customer and part of it is related to future deliveries. REC expects to continue to protect its position in the silane gas market going forward.

For further information, please contact

Mikkel Tørud, SVP Investor Relations & Business Development, REC  

Telephone: +47 976 99 144

About REC
REC is a leading global provider of solar electricity solutions. With nearly two decades of expertise, we offer sustainable, high-performing products, services and investment opportunities for the solar and electronics industries. Together with our partners, we create value by providing solutions that better meet the world's growing electricity needs. Our 2,300 employees worldwide generated revenues of more than NOK 7 billion in 2012, approximately EUR 1 billion or USD 1.3 billion. To see more of what REC can offer, visit www.recgroup.com.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)