Renewable Energy Corp to increase US wafer capacity with $485 million investment

[jpak]

http://www.forbes.com/markets/feeds/afx/2007/04/26/afx3656161.html

OSLO (Thomson Financial) - Renewable Energy Corporation ASA (REC) said it has decided to invest 485 mln usd in expanding its silane and polysilicon capacity in the US, and 200 mln nkr adding to its wafer capacity in Norway.

The Norwegian renewables firm said its US silane capacity will be increased by 9,000 metric tonnes (MT) and its polysilicon capacity by 6,000 MT. This new production capacity should be in place by the start of 2010, REC said.

In Norway, the firm said the 200 mln nkr investment will give it an additional 50 mega-watts (MW) of wafer capacity at its plant at Glomfjord.

This is expected to be up-and-running by the end of the second quarter in 2008, the firm said.

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