Primary insider transaction

Sandvika, November 9, 2010: Primary insider Erik Sauar (Senior Vice President &

CTO in REC) and related parties has today sold 240,000 shares in Renewable

Energy Corporation ASA at an average price of NOK 20.11 per share. After this

transaction Mr. Sauar and related parties holds 255,424 shares and 334,756 share

options in the company.

About REC

REC is a leading vertically integrated player in the solar energy industry. REC

is among the world's largest producers of polysilicon and wafers for solar

applications, and a rapidly growing manufacturer of solar cells and modules. REC

is also engaged in project development activities in selected PV segments.

Founded in Norway, REC is an international solar company, employing more than

4,100 people worldwide. REC had revenues in excess of NOK 9 billion in 2009.

Please visitwww.recgroup.com to learn more about REC.

This information is subject of the disclosure requirements acc. to §5-12 vphl

(Norwegian Securities Trading Act)

[HUG#1460589]

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