REC posts 12 pc revenue growth in Q2

By Editor


European solar panel maker REC has posted 12 percent increase in its revenue from Q1, 2015.

The company has stated in its quarterly report published recently that it earned $168 million in Q2, 2015.

The revenue included photovolvaic module shipments to the tune of 130 MW to the US, which accounted for half of the total sales of the company in the quarter. It was a 44 percent increase from Q1.

The company has also reported 150 percent increase in its photovoltaic module shipments from the previous quarter to 45 megawatts in the Asia-Pacific region.

For this year the REC has forecast increase in installations by 30 percent compared with last year.

In numerical terms, the company expects to install 58 gigawatt capacity in 2015. It sees China, Japan and the US at its top three markets worldwide.

Ajith Kumar S

[email protected]

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