OSLO, Norway/SAN FRANCISCO, July 25, 2014: REC Group, a leading global provider of solar energy solutions, announced during its second-quarter earnings presentation that the company has experienced growth in its sales pipeline in the United States as a result of REC's intensified focus on the U.S. market and position as a supplier of tariff-free solar panels from its vertically integrated manufacturing facility in Singapore. The company posted its fifth consecutive profitable quarter, increased its cash balance, and boosted solar panel production from its Singapore manufacturing facility during the period.

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"Given our two announcements relative to the SolarCity deal and the 72-cell panel production, the U.S. will be an increasingly important area for us to concentrate on," said CEO Martin Cooper during the quarterly call. "SolarCity is the first new contract we have signed as a result of this general stronger focus toward the U.S. We are in discussion with a number of U.S. companies to further expand our expected sales capacity in 2015 in the U.S. market."

"This is generated as much as anything by the ongoing trade dispute between the U.S. and China, which has given us the momentum to exploit the current situation," he continued. "With our flexibility on where we dispatch our products and our relatively quick ability to create a new 72-cell production capacity, as a company we are able to take advantage of these opportunities as they arise."

The U.S.-China trade dispute will be back in the news Friday, July 25, when the U.S. Department of Commerce is expected to issue its preliminary determinations of antidumping investigations on imports of certain crystalline silicon photovoltaic products from China and Taiwan.

For more information on REC's second-quarter results, the company presentations can be found here: http://www.recgroup.com/en/ir/

For further information please contact:
Agnieszka Schulze
Public Relations Manager, REC
Leopoldstr. 175, 80804 Munich, Germany
Telephone: +49 89 54 04 67 225
Email: Agnieszka.Schulze@recgroup.com

About REC:
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.
Find out more about REC at www.recgroup.com

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