Elkem Invests in Silicon for Solar Cells

[RenewableEnergyAccess.com] Elkem has agreed with the two main shareholders of Renewable Energy Corporation, Good Energies and Hafslund Venture, to acquire a 23 percent ownership position in Renewable Energy Corporation for a total consideration of approximately NOK 450 million (US $70.2 million). Renewable Energy Corporation is a Norwegian company that produces silicon feedstock and wafers for the photovoltaic industry. Elkem has over the last years made considerable investments in the development of a new silicon feedstock for the solar cell industry, and expects to commence construction of a pilot plant in the near future.

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