Solar — Regulatory Filings 2014

Aug 21, 2014

REC Solar ASA: REC Group and Sunrun Sign Solar Panel Supply Agreement as the Company Accelerates U.S. Market Push

REC Solar ASA: REC Group and Sunrun Sign Solar Panel Supply Agreement as the Company Accelerates U.S. Market Push

OSLO, Norway and SAN FRANCISCO, August 21, 2014 - REC Group, a leading global

provider of solar energy solutions, has signed a supply agreement with Sunrun,

the largest dedicated residential solar company in the United States, under

which Sunrun will buy a minimum of 50 megawatts (MW) and up to 100 MW of REC's

high-quality Peak Energy Series solar panels in 2015. The agreement also

signifies REC Group's plans to further increase its footprint in the U.S.

"The U.S. will be an increasingly important market for REC," said Martin Cooper,

CEO of REC. "With a combination of our flexibility to selectively dispatch our

products across our global market network and ability to develop a new 72-cell

production capacity, we have been able to quickly position ourselves well to

take advantage of this opportunity. However, in the long term, the overall high-

quality and reliability of our products remain the crucial factors for past and

upcoming contracts."

"Access to high quality, high performing panels is critical in our ability to

give even more consumers the choice to buy cleaner, less expensive power and

achieve our vision of creating a planet run by the sun," said Paul Winnowski,

Sunrun's chief operating officer. "Our certified installers believe REC's high-

performance PV panels are one of the best rooftop solar products available and

the company's unwavering commitment to quality, strong financial position and

trustworthy reputation make them an ideal partner for Sunrun."

This latest contract follows REC's announcement of its 72-cell utility-scale

panel product for the U.S. market and other supply agreements, which have

contributed to REC doubling its U.S. order intake over the past 12 months.

"This partnership with an industry leader like Sunrun further demonstrates

REC's commitment to the rapidly growing U.S. market," said Arndt E. Lutz, senior

vice president of REC Group and managing director of its North American

business. "The agreement bolsters our position as a competitively priced and

trade-compliant supplier of bankable PV panels."

For additional information, please contact:

Kim Boman

Investor Relations, REC

Karenlyst Alle 51, Oslo, Norway

Phone: +47 959 63 912

Email: kim.boman@recgroup.com

Agnieszka Schulze

Public Relations Manager, REC

Leopoldstr. 175, 80804 Munich, Germany

Phone: +49 89 54 04 67 225

Email: agnieszka.schulze@recgroup.com

About REC Group

REC 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.

Headquartered in Norway, the company is traded under the name REC Solar ASA and

listed on the Oslo Stock Exchange (ticker: RECSOL). Our 1,600 employees

worldwide generated revenues of US $647 million in 2013. For more information,

visit www.recgroup.com.

About Sunrun

Sunrun pioneered solar as a service, a way for homeowners to go solar without

high upfront cost, and is the largest dedicated residential solar company in the

U.S. Sunrun provides end-to-end service for homeowners to choose cleaner,

cheaper, solar energy and fix their electric costs for 20 years. The company

designs, installs, finances, insures, monitors and maintains the solar panels on

a homeowner's roof, while families pay just for the electricity at a lower rate

than their current utility. Since Sunrun introduced solar service in 2007, it

has become the preferred way for consumers to go solar in the nation's top solar

markets. Sunrun has deployed $2 billion in solar systems and has raised more

than $300 million in equity capital. For more information, please visit:

www.sunrun.com.

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