REC enters emerging Indian solar market supplying 5MW solar plant in Rajasthan

REC modules were selected for a 5MW module solar power plant developed by Kanoria Chemicals & Industries Limited (“KCI”) which is among the first projects to benefit from the Renewable Energy Certificate Mechanism in India.

Sandvika, November 9, 2011: KCI selected high performing REC Peak Energy Series modules for the project. REC modules are ranked in a top position for energy yield in the Photon Module Field Performance Test providing 6 percent more energy on average than competing brands. Anil Yadav, Head of Indian Subcontinent Region, REC Solar Asia Pacific stated “REC is honored to be selected as the supplier for this landmark project which will help Rajasthan and India to benefit from solar energy.

Progressive government policies and awareness of the competitiveness of solar will help India to meet our fast growing energy needs”. “REC was selected as the preferred supplier for the project due to the quality of its modules in addition to the linear performance and product warranty as well as the technical support provided”, said Saumya Vardhan Kanoria, an executive from Kanoria Chemicals & Industries Limited.

REC is expanding module sales activity in India which is expected to become one of the largest solar markets in the world. REC is a sponsor of Solarcon India, the largest PV focused technology and business event in the country taking place from 9-11 November in Hyderabad during which executives will present at the gala dinner and in the technology conference.

For further information, please contact:
Anil Yadav
Head of Indian Subcontinent Region
REC Solar Asia Pacific
+91 9818019944
or
Heather Pace Clark
PR Marketing Specialist
+47 951 50 324

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 3,900 people worldwide. REC had revenues close 1,750 million Euros in 2010.

About Kanoria Chemicals & Industries Limited
Kanoria Chemicals & Industries Limited is a leading manufacturer of chemical intermediates in India. KCI is well recognized in the areas of environmental management, resource use efficiency and social responsibility. The company’s product portfolio comprises over ten chemical products with market leadership in three and substantial shares in others.