Dave Savastano10.23.14
REC Group has closed two supply agreements with Recurrent Energy, LLC, a leading North American solar project developer, for the supply of an aggregate of 300 MW photovoltaic panels for utility-scale developments in California. REC will supply the recently introduced Peak Energy 72 Series panels from Q1 2015 until Q2 2016 at a fixed price.
The utility-scale segment accounts for the largest portion of solar installations in the U.S. market. IHS expects that new installations in the US utility-scale segment will constitute 4.1 GW in 2015.
“With our successful push into the U.S. market, we have been able to build up an order book that significantly exceeds our 300 MW panel manufacturing expansion in 2015. Our expanded order book will allow for greater planning visibility and assist in further stabilizing our financial performance. With our new 72-cell product, we are seizing opportunities in the U.S. large commercial and utility markets and are demonstrating significant growth in line with our expectations,” said Martin Cooper, CEO of REC Group.
The utility-scale segment accounts for the largest portion of solar installations in the U.S. market. IHS expects that new installations in the US utility-scale segment will constitute 4.1 GW in 2015.
“With our successful push into the U.S. market, we have been able to build up an order book that significantly exceeds our 300 MW panel manufacturing expansion in 2015. Our expanded order book will allow for greater planning visibility and assist in further stabilizing our financial performance. With our new 72-cell product, we are seizing opportunities in the U.S. large commercial and utility markets and are demonstrating significant growth in line with our expectations,” said Martin Cooper, CEO of REC Group.