REC wins contract for multiple solar projects in Thailand totaling 72 MW

REC, a leading global provider of solar electricity solutions announces that it will deliver 72 MW of solar panels for the construction of six solar power plants in Thailand, to be located in Nakhon Pathom and Suphan Buri provinces.

Bangkok – May 2, 2013: “We have made dedicated efforts in recent years to strengthen our global solar business and to significantly expand our presence in growing markets like Southeast Asia. We are glad to see that our efforts are now materializing,” said Luc GrarĂ©, Senior Vice President Solar Sales and Marketing, REC.

The 293,040 REC Peak Energy Series solar panels to be installed at the SolarCo power plants will bring the number of REC’s large-scale installations in Thailand to seven and underscores REC’s leading market position in the Southeast Asian country. “We are very proud that REC solar panels were selected for these projects and that we are now the market leader with almost 82 MW in this attractive and sun-drenched region of Southeast Asia,” commented Jenvit Jivakulchainan, Managing Director Thailand, REC.

The plants will be owned and operated by Yanhee EGCO Holding, while Italthai Engineering Co., Ltd. and Phoenix Solar Pte Ltd. will share engineering, procurement and construction responsibilities. “REC has a strong reputation and their high-performing solar panels allow for optimal land use by providing higher yields,” said Pongsapat Theppratuangthip, Senior Vice President, EGCO. “We are confident that the solar plants we build will reliably maximize our return on investment while generating clean, renewable energy for Thailand."

Around half of Thailand’s primary electricity needs are supplied by imports, so the country is understandably keen to generate more itself. The aim is to have 25% of electricity needs met by renewable sources by 2021. Each year, the ground-mounted SolarCo systems will feed 57,000 MWh into Thailand’s power grid and reduce the country’s CO2 footprint by almost 66,000 metric tons. The produced electricity will be sold to Provincial Electricity Authority (PEA) under a Very Small Power Producer (VSPP) contract.

For further information please contact:
Anja Hesse
Public Relations Manager, REC Solar Sales and Marketing GmbH
Leopoldstr. 175, 80804 Munich, Germany
Phone +49 89 54 04 67 223

Jenvit Jivakulchainan
Managing Director Thailand, REC Systems (Thailand) Co. Ltd.
Level 29 - The Offices at Centralworld 999/9 Rama I Rd.
Pathumwan, Bangkok, 10330 Thailand
Phone +66 2 207 8627

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 2,200 employees worldwide generated revenues of more than NOK 7 billion in 2012, approximately EUR 1 billion or USD 1.3 billion.

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