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REC sells €50m worth of solar plant equipment

As part of its solar manufacturing capacity cuts, REC is selling off €50 million worth of solar plant equipment.

By Kari Williamson

Asset management company GoIndustry DoveBid, which has been appointed to handle the disposals, says three solar wafer and cell plants owned by REC Group in Norway have been placed on the global market.

REC announced in October it was closing its 500 MW capacity solar wafer plant at Herøya, its 275 MW solar wafer multi-plant in Glomfjord and its solar cell plant in Narvik, a 200 MW capacity site.

GoIndustry Project Director Nick Schofield says the sale is illustrative of the trend for manufacturing in the solar photovoltaic (PV) sector to shift towards the Far East and emerging economies.

The solar wafer plants have a capacity of around 775 MW and the solar cell plants approximately 200 MW.

“Solar component manufacturing is, of course, a relatively new industry and it is striking that we are already witnessing a shift from Europe towards the emerging economies. We anticipate huge interest in this disposal from the Far and Middle East and Russia,” Schofield says.

He adds: “The plant is available as a whole or in lots and, together, represents one of the largest disposal of solar manufacturing plants to date.”

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Photovoltaics (PV)  •  Policy, investment and markets