Solar — Earnings Release 2013

May 30, 2014

REC Solar ASA received first installment for the sale of solar roof-top projects in Italy

REC Solar ASA received first installment for the sale of solar roof-top projects in Italy

Oslo, May 30, 2014 - REC Solar ASA's ("REC Solar") wholly owned subsidiary, REC

Systems Italy S.R.L. in liquidation, entered during April 2014 into sale and

purchase agreements ("SPA") for the sale of its seven solar roof-top projects in

Piedmont, Italy. The roof-top portfolio comprises in total 4.5 MWp. The SPA is

subject to confidentiality obligations and closing conditions.

The closing of the sale of five of the solar roof projects was executed on May

20, 2014 when REC Solar received the first installment of the purchase price for

the five solar roof top projects. The remaining installments will be paid to REC

Solar upon satisfaction of remaining closing conditions.

"These transactions mark another significant milestone for the disposal of REC

Solar's Systems business in Europe. The achieved sales price is fair and

reflects the current Italian solar PV project market.

REC Solar's system business will after completion of the sale of the projects

above, have ownership interests in solar parks in Mizil (Romania) and a 20%

ownership in a solar fund in Italy. REC will continue to explore opportunities

to maximize the sale price for the remaining assets", said Øyvind Hasaas, CEO

REC Solar ASA.

For further information, please contact:

Kim Boman

Investor Relations

Telephone: +47 959 63 912

Email: kim.boman@recgroup.com

About REC Solar ASA

REC Solar ASA is a leading global provider of solar energy solutions. With more

than 15 years of experience, we offer sustainable, high performing products,

services and investments for the solar industry. Together with our partners, we

create value by providing solutions that better meet the world's growing energy

needs. REC Solar ASA is headquartered in Norway and listed on the Oslo Stock

Exchange (ticker: RECSOL). Our 1,600 employees worldwide generated revenues of

USD 647 million in 2013.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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