REC is installing an 8 MW solar power plant in Romania

REC, a leading global provider of solar electricity solutions, has acquired the project rights of an 8 MW solar park in the north of Bucharest, Romania and has started construction at the end of January 2013.

Munich – March 12, 2013: Romania is a very promising emerging market for solar electricity investments due to very good radiation levels and a stable regulatory incentive framework – referred to as “green certificates”. Solar power plant operators receive green certificates for solar electricity fed to the grid over a 15 year period for between EUR 27 per MWh and EUR 55 per MWh per certificate. Currently, six green certificates are awarded for each MWh of electricity produced from solar power plants, which become operational by January 1, 2014. REC has negotiated a Green Certificate Purchase Agreement solution (GCPA) with EON offering bankable conditions.

REC is providing engineering, procurement and construction (EPC) services as well as its leading solar panels for the solar power plant, which will be sold to an investor during construction or upon completion. The solar power plant covers an area of 13.5 hectares and has an expected annual energy yield of above 1,300 kWh/kWp.

“We want to expand our business activities to the Eastern European market and Romania is one of the most appealing markets in 2013,” said Matthias Ermer, Managing Director Systems, REC. Until now the REC has sold 20 MW in Romania.

Matthias Ermer added: “To guarantee high quality and a long lifetime with excellent power output, we will use our own high-performing REC solar panels and a mix of very good components.” For the installation, REC will use suppliers Schletter for racks and Danfoss for the inverters.

REC’s panel power output warranty guarantees higher, linear power output performance over a 25 year period.

For further information please contact:
Anja Hesse
Public Relations Specialist, REC Solar Sales and Marketing GmbH
Leopoldstr. 175, 80804 Munich, Germany
Phone +49 89 54 04 67 223
Email anja.hesse@recgroup.com

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