Unlimited solar growth (REC - Norway)

[jpak]

http://www.aftenposten.no/english/business/article2028586.ece

REC predicts a halving of the cost of producing solar panels by 2010, thanks to the implementation of more efficient technology.

Thorsen told Reuters that a competitive solar energy offer in the 'sun belt', those parts of the world with 1,400 hours of sun a year, which includes North America and the Mediterranean, will allow REC to supply a significant part of the world's population.

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"The industry should be able to reduce prices significantly forward to about 2010-2012, without destroying margins," Thorsen said.

REC's major investment will be a new production facility that will cost between USD 2-3 billion. The company also wants to invest between USD 1.5 and 2.5 billion to increase silicon production, with a facility either in Europe, Asia or North America.

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