Primary Insider Transaction

Sandvika, May 4, 2011: Primary insider Bernt Reitan (Board Member in REC) has today purchased 30,000 shares in Renewable Energy Corporation ASA (REC) through a wholly-owned company at an average price of NOK 17.15 per share. After this transaction, Mr. Reitan and related parties holds 30,000 shares in the company.

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 to NOK 14 billion in 2010.  Please visit to learn more about REC.

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