Renewable Energy Corporation (REC), the largest European supplier of solar modules, has been honored with Frost & Sullivan’s 2011 Global Customer Value Enhancement Award in the solar power market. REC was the only solar company chosen because of its demonstrated commitment to being a highly competitive solar energy solutions provider that creates superior value for its customers.

Frost & Sullivan’s 2011 Global Customer Value Enhancement Award (Graphic: Business Wire)

“We are very pleased to be recognized by Frost & Sullivan for our efforts to reduce production costs and energy consumption to provide customers with greater accessibility to high-quality solar modules, improving their return on investment,” commented Luc Graré, Senior Vice President, Sales and Marketing, Cells and Modules, REC. “We continue to build long-term partnerships with distributors and installers through the REC Partner and REC Solar Professional Programs, and ensure solar energy customers gain added value with our focus on solar from silicon production through to systems.”

Frost & Sullivan specifically highlighted REC’s innovative strength, technical expertise, big investments in R&D as well as its customer-centric approach. REC’s key achievements are the introduction of its proprietary Fluidized Bed Reactor (FBR) technology, which makes solar power solutions more accessible to customers across the globe, and its commitment to partnership through its industry leading partner and certified installer program.

“Reducing the manufacturing costs of solar panels can reduce solar electricity costs and put it on par with conventional sources of electricity generation, thereby increasing its uptake”, said Frost & Sullivan Research Analyst Georgina Benedetti. “Since no other market participant uses the FBR technology, REC has developed a distinct competitive edge by delivering high value for money to its customers.”

The Frost & Sullivan Award is presented each year to the company within a particular industry that has demonstrated excellence in implementing strategies that proactively create value for its customers with a focus on improving the return on the investment that customers make in its services or products. The Award recognizes the company's inordinate focus on enhancing the value that its customers receive, beyond simply good customer service, leading to improved customer retention and ultimately customer base expansion.

About REC:

REC is a leading vertically integrated solar energy company. REC produces polysilicon, wafers, cells and modules for the solar industry, and silicon materials for the electronic industry. REC also engages in project development in selected PV segments. Founded in Norway in 1996, REC employs around 3,200 people globally with revenues of more than NOK 13 billion in 2011, approximately EUR 1.7 billion or USD 2.4 billion. Please visit www.recgroup.com to learn more about REC.

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