Solar — Regulatory Filings 2014

Jun 5, 2014

REC Solar ASA : REC Group and SolarCity Sign 100 Megawatt (MW) OEM Supply Agreement with Option to Increase to 240 MW

REC Solar ASA : REC Group and SolarCity Sign 100 Megawatt (MW) OEM Supply Agreement with Option to Increase to 240 MW

OSLO, Norway, June 5, 2014 - REC Group, traded under the company name REC Solar

ASA (Oslo Stock Exchange: RECSOL) and SolarCity® (Nasdaq: SCTY) today announced

a supply agreement under which SolarCity will purchase a minimum of 100 MW and

up to 240 MW of REC's high quality, high-performing Peak Energy solar panels

during a 12 month period beginning in Q4 2014. SolarCity, the U.S.' largest

solar power provider, plans to install the solar panels across its 15-state

service territory. The solar panels are compatible with SolarCity's Zep Solar

mounting system - REC and ZEP Solar entered into an technology licensing

agreement earlier this year.

"The availability of competitively priced, U.S. trade-compliant PV modules is an

important development for the global solar industry," said Tanguy Serra,

SolarCity's chief operations officer. "REC delivers high-performance modules

with excellent resistance to degradation, all with a responsible environmental

footprint."

REC is a leading manufacturer of wafers, cells and solar panels for solar

applications. REC's solar panels are backed by its linear 25-year power output

guarantee, and feature enhanced power production per square foot, robust and

durable design, easy installation, optimized performance in all sunlight

conditions, with a typical energy payback time of less than one year.

"REC Group is excited to partner with SolarCity, extending our presence in North

America's rooftop generation markets," said Arndt E. Lutz, REC Group's senior

vice president. "Our high quality, tariff-free, bankable solar modules are an

excellent fit for the United States' largest solar power provider."

For further information, please contact;

Arndt E. Lutz

Senior VP, REC Group North America

Telephone: +1 877 332 4087 (US) / +1 917 319 8044 (non-US)

Email: Arndt.Lutz@recgroup.com

About REC Solar ASA

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.

REC 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. For more information, visit www.recgroup.com.

About SolarCity

SolarCity® (NASDAQ: SCTY) provides clean energy. The company has disrupted the

century-old energy industry by providing renewable electricity directly to

homeowners, businesses and government organizations for less than they spend on

utility bills. SolarCity gives customers control of their energy costs to

protect them from rising rates. The company makes solar energy easy by taking

care of everything from design and permitting to monitoring and

maintenance. SolarCity currently serves 15 states and signs a new customer every

two minutes. Visit the company online at www.solarcity.com and follow the

company on Facebook & Twitter.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1790901]