REC to Permanently Close Down Its Operations in Glomfjord, Norway

Renewable Energy Corporation ASA (REC) has decided to permanently close down its operations in Glomfjord, Norway. With prospects of continued negative operating results in Glomfjord, REC has decided to close down the 300 MW monocrystalline wafer plant. The plant is expected to be closed shortly, and about 200 employees will be affected.

“Our organization in Glomfjord has demonstrated operational improvements and cost reductions that are impressive, but this has unfortunately not been sufficient to ensure profitability in a very challenging market environment. We are conscious of the impact the shutdown will have on the affected employees and the community of Glomfjord, and this is therefore not a decision we have taken with ease,” said Ole Enger, president and CEO.

Three out of four employee representatives on the REC Board of Directors voted against the closedown decision.