An ambitious plan, which hasn’t been without implementation issues and which has stretched the financial structure of REC Group, is finally bearing fruit according to key executives of the company. At a lengthy investor and analyst seminar being held in Singapore, coinciding with the grand opening of the company's €1.3 billion plus integrated module production facility, enigmatic CEO Ole Enger claimed REC was on track to deliver a companywide all inclusive cost of €0.97/watt by the fourth quarter 2011. Excluding equipment and building depreciation at the new plant, the cash cost target for next year would be €0.74/watt.