REC - 5-year frame contract with Gamesa Solar

Monday, 15. May 2006 16:44

These materials are not an offer of securities for sale in the United
States, the Company's securities may not be offered or sold in the
United States absent registration or an exemption from registration,
any public offering of the securities to be made in the United States
will be made by means of a prospectus that may be obtained from REC
and that will contain detailed information about REC and management,
as well as financial statements.

REC Solar, a fully owned subsidiary of REC, has entered into a frame
contract for supply of solar modules to Spanish Gamesa Solar, which
is specializing in equipment manufacturing and construction of solar
farms. The contract is for 5 years, starting in 2006. The contract
value for 2006 is between EUR 25-35 million.

The contract with Gamesa Solar creates an important entry for REC
into the Spanish market, and will secure REC Solar a broader market
presence within the growing Mediterranean market. The five-year
contract volume amounts to a total of approximately 50 MWp of solar
modules, and is an important step in REC Solar's ongoing expansion
program.

About REC
REC is uniquely positioned in the solar energy industry as the only
company with a presence across the entire value chain. REC Silicon
and REC Wafer are the world's largest producer of solar grade silicon
and wafers for solar applications. REC Solar produces solar cells at
its plant in Norway and solar cell modules at its facilities in
Sweden. REC Group had revenues in 2005 of 2.454 MNOK and an operating
profit of 601 MNOK. Please see also www.recgroup.com

About Gamesa Group
Gamesa is an international corporation, focused mainly on the
renewable energy sector. In this field, its activity spans from the
promotion, procurement and sale of solar and wind farms to the
design, manufacturing and sale of wind turbines. Gamesa reached in
2005 a turn over 1.745 million euro, 32% higher than in 2004, and a
net profit of 177 million euro in 2005, 8% higher than in the
previous year. Further information may be found at www.gamesa.es
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Author:
Hugin
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