SECURING RETURNS. Proven partner in large-scale solar project development and turnkey installation

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1 SECURING RETURNS SYSTEMS AND SOLUTIONS BY REC Proven partner in large-scale solar project development and turnkey installation

2 Fully Integrated REC is a leading integrated solar energy company, with the skills, expertise, and award-winning technology needed to deliver a real financial and environmental return on investment. STRONG AND RELIABLE PARTNER With a focus on integration and inno vation, REC is among the world s largest producers of polysilicon and wafers for solar applications, a leading manufacturer of solar cells, and the largest European supplier of solar panels globally. REC has more than 250 patents pending or granted, including the proprietary Fluidized Bed Reactor process which uses 90 percent less energy than traditional methods to produce high- quality polysilicon. With a state-of-the-art integrated wafer, cell and solar panel production facility in Singapore, REC has complete control over the value chain, ensuring consistent highquality products. Headquartered in Norway, REC has operations worldwide to serve a growing global customer base. SYSTEMS AND SOLUTIONS PROVIDER REC s fully-integrated value chain extends beyond solar panels to also include largescale full system integration. Systems by REC combine industry-leading insight and expertise, with high-performing solar panels and engineering skills, to provide world-class project development and turnkey solutions. With a growing portfolio of success stories, REC s Systems division builds and and supports project development worldwide from the head office in Munich, Germany and with regional offices in the USA, Singapore, India and Dubai. REC s global Systems organization includes professionals with extensive solar industry experience in project development, turnkey installations, financing and legal services. DEMONSTRATED EXPERTISE REC develops, installs and sells profitable solar power plants. The team manages all stages of project and turnkey solution development, depending on customer needs. With over 130 MW of power plants already installed globally, REC is a proven partner for system integration. The multi-awardwinning solar panels from REC combined with experience and access to financing, makes REC uniquely positioned to lead the development and realization of mediumand large-scale solar power plants. Whether an investor is seeking reliable financial returns, a project developer in need of support, or a general contractor specializing in solar, REC is a proven partner ready to deliver real returns. REC offers a full range of services and solutions for the realization of solar systems and power plants: Project Development Financing EPC/Turnkey solution Operations Site identification, verification, purchasing and development Permit management (building, environmental, utility) Subsidy and entitlement setup (FIT, PPA) Due diligence Business case assessment Investment structuring Debt and equity sourcing Facility design Project and build costing Yield analysis and technical planning Subcontractor tendering and negotiation Project and site management Commissioning Monitoring Maintenance Subcontracting Auditing

3 Project: Phenix, Italy System type: Single axis-tracking System size: 24.2 MW REC role: Project development, financing and turnkey installation in consortium with ABB Technology: East-west single axis tracker system Annual capacity: 36,763 MWh saved annually: 15,183 Canino, Italy (24.2 MW) Systems by REC: Proven solutions REC has a strong track record of developing highly successful solar electricity systems and projects around the world. Isle of Wight, UK (5 MW) Project: Durrants Farm, UK System size: 5 MW REC role: Project development, financing, equity sales and turnkey installation Technology: Fixed tilt system Annual capacity: 5,400 MWh saved annually: 3,500 Regensburg/Freiburg, Germany (582 kw) Project: IKEA, Germany System type: Rooftop System size: 582 kw REC role: Turnkey installation after winning IKEA tender process Technology: Fixed tilt aerodynamic Annual capacity: 582 MWh saved annually: 530 Piemonte, Italy (3.8 MW) Project: Jasemba, Italy System type: Rooftop System size: 3.8 MW REC role: Project development, permitting, turnkey installation, connection and financing Technology: Semi integrated fixed tilt system Annual capacity: 3,802 MWh saved annually: 2,030

4 GLOBAL SOLAR POWER CUSTOMER VALUE ENHANCEMENT AWARD Portfolio of SELECT LARGE-SCALE SYSTEMS by rec Project Name Country System Size Year Completed Mizil Romania 8.0 MW 2013 Schependorf Germany 10.2 MW 2012 Schongau Germany 3.8 MW 2012 Bero-Eneri 5 Italy 7.4 MW 2012 Mae Chan, Thailand (9.5 MW) Project: Chiang Rai, Thailand System size: 9.5 MW Aude and Haute Garonne, France (5 MW) Project: Luxel, France System size: 5 MW Bero-Eneri 6 Italy 6.6 MW 2012 Villacirdo Italy 5.0 MW 2012 Jasemba Italy 3.8 MW 2012 Sarda Solar Italy 1.9 MW 2012 Bitterfeld Germany 6.1 MW 2011 Phenix Italy 24.2 MW 2011 Bero-Eneri 3 Italy 9.7 MW 2011 Sonnedix Italy 5.2 MW 2011 Bero-Eneri 2 Italy 4.8 MW 2011 Forte Italy 4.7 MW 2011 Soleil Italy 2.5 MW 2011 Bero-Eneri 4 Italy 2.3 MW 2011 Durrants Farm UK 5.0 MW 2011 Ebbsfleet UK 4.9 MW 2011 Rybnicek Czech Republic 4.5 MW 2010 Luxel France 5.0 MW 2010 IKEA Germany 581 kw 2010 Bero-Eneri 1 Italy 5.8 MW 2010 High performance Solar PANELS REC solar panels have multiple accreditations verifying high quality and performance. REC Peak Energy Series solar panels received an enhanced certification from SERIS for potential-induced degradation (PID) resistance, performing very well in one of the harshest PID tests in the industry, demonstrating their suitability in regions with high temperature and high humidity. In addition, they are certified as desert-proof according to IEC protocol by SGS. This Blowing Sand Test measures durability in harsh desert environments characterized by blowing sand. Bitterfeld, Germany (6 MW) Project: Bitterfeld, Germany System size: 6 MW REC role: Project development, financing, equity sales and turnkey installation Technology: Fixed tilt system Annual capacity: 6,101MWh saved annually: 3,435 Award winning solar solutions FIRST place Photon module field test 2011 Highest yield in year-long real-world comparative study FROST & SULLIVAN 2011 BEST PRACTICES AWARD Global solar power Customer Value Enhancement Award 2011 solar industry award 2011: Silicon innovation Fluidized Bed Reactor (FBR) Process 2010: Module Manufacturing Innovation Integrated, highly automated production facility

5 Financially Solid With its solid financial position, REC has the resources to support the development of large renewable energy projects over the long term. REC continues to reduce net debt (in EUR million) end end end REC solar panel production output (in MW) Top: REC s silicon production facility in Moses Lake, Washington, USA. Above: REC s integrated wafer, cell and module manufacturing facility in Tuas, Singapore. The integrated production facility in Singapore is expected to deliver 800 MW of solar panels in 2013, a more than 52 percent increase from the output in This is planned to further increase to keep up with the global demand for REC solar panels. Contrary to the industry trend of rising debt levels, REC continues to reduce its debt year over year: from EUR 946 million at the end of Q1 2011, to EUR 254 million at the end of Q a 74 percent reduction in just two years. In combination with high-quality products plus a competitive cost and market position, REC is a strong partner throughout the value chain. For the latest and comprehensive information about REC s financials, please visit Silicon Wafer Cell SOLAR PANEL System The REC value chain

6 Contact us V USA GERMANY DUBAI INDIA Singapore REC Systems, Inc Triton Drive Foster City, CA U.S.A. Phone REC Systems Germany GmbH Leopoldstr Munich Germany Phone REC Solar Solutions DMCC Jumeirah Lake Towers X3 Tower, Office #410 PO Box Dubai UAE Phone REC Systems india 3-B, Third Floor, M6 Uppal Plaza, Jasola District Centre New Delhi India Phone REC Systems Pte. Ltd. 20 Tuas South Avenue 14 Singapore Singapore Phone Renewable Energy Corporation ASA Kjørboveien 29 PO Box Sandvika Norway Phone: REC is a leading global provider of solar electricity solutions. With nearly two decades of expertise, we offer sustainable, high-performing products, services and investment opportunities for the solar and electronics industries. Together with our partners, we create value by providing solutions that better meet the world s growing electricity needs. Our 2,300 employees worldwide generated revenues of more than NOK 7 billion in 2012, approximately EUR 1 billion or USD 1.3 billion.