Module manufacturer, REC Solar ASA has announced the closure of two supply agreements totalling 300MW.
The 300MW of supply agreements are both with North American developer, Recurrent Energy, for utility-scale solar projects in California.
REC is to supply its ‘Peak Energy 72 Series’ of panels, from the beginning of 2015, to the second quarter at a fixed price.
REC has had a number of US supply agreements recently; 685MW supply agreements for US residential, commercial and utility – 532MW of which is to be delivered in 2015, representing 44% of REC’s 1.2GW targeted production for next year, and exceeding REC’s 2015 300MW expansion.
“With our new 72-cell product, we are seizing opportunities in the US large commercial and utility market,” said Martin Cooper, CEO of REC Group
Utility-scale solar is the largest portion of the US solar market – IHS predicts utility-scale to grow to a 4.1GW market for 2015.
REC announced plans to expand capacity 1GW in 2014 and a further 300MW in 2015 to meet demand earlier this year, and a focus on the US market this summer.
