REC Chooses Quebec For Silicon Expansion

Renewable Energy Corporation ASA (REC) announced that is has chosen Becancour, Quebec as the site for its next phase of polysilicon production expansions. The site will be developed in stages and could potentially hold four production units similar in size to the factory that the company is currently finishing in Moses Lake, Washington State.

REC has simultaneously signed agreements with Hydro Quebec, and Société du Parc industriel et portuaire de Bécancour (SPIB). The agreements outline both the terms and conditions related to the development of the new production site and other commercial conditions.

As part of an arrangement with the Government of Quebec, REC will have a long term power contract with Hydro Quebec. The 20 year power contract will provide REC with long-term renewable power at a predictable cost. The agreement further assumes that total investments at the SPIB will exceed US $1.2 billion and that the total number of employees will exceed 300 people.
 
“The development of this site will enable us to continue expansion of our silicon business in the most cost efficient manner and will consequently support REC’s further growth downstream as well as our ambitious long-term cost target,” said Erik Thorsen, president and CEO of REC.

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