REC at Intersolar Europe 2016: Celebrating 10 years of successful partnership with BayWa r.e.

As REC's first partner in Europe, the partnership with BayWa r.e. marked an important step for REC in conquering solar markets throughout Europe. With solar panel prices at around EUR 3.50 per watt peak just ten years ago, the industry has achieved significant cost decrease. Today, solar is reaching grid parity in more and more markets in Europe and worldwide.

BayWa r.e. renewable energy GmbH is a wholly-owned subsidiary of BayWa AG and combines the activities of the solar, wind, bio- and geothermal energy business sectors. BayWa r.e.'s core markets are Europe and the USA. The German based company is a 'full-service-partner', employing around 950 and drawing on more than 25 years of experience in the market. Today, BayWa r.e. develops, realises, consults on and supports renewable energy projects. In addition, the company operates and maintains renewable energy plants. Further business activities include wholesaling PV components, as well as purchasing and trading in green energy. BayWa r.e.'s parent company, BayWa AG, is an international trading and service enterprise with core areas of business in the agriculture, energy and construction sectors.

For further information please contact:
Agnieszka Schulze
Head of Global PR, REC
Leopoldstr. 175, 80804 Munich, Germany
Phone +49 89 54 04 67 225
Email Agnieszka.schulze@recgroup.com

About REC:
Celebrating its 20th anniversary in 2016, REC is a leading European brand of solar panels. Through integrated manufacturing from polysilicon to wafers, cells, panels and turnkey solar solutions, REC strives to help meet the world's growing energy needs. Founded in 1996, REC is a Bluestar Elkem company with headquarters in Norway and operational headquarters in Singapore. REC concluded 2015 with 2,000 employees worldwide, 1.3 GW solar panel production capacity, and annual revenues of USD 755 million.

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