However, earnings before interest, taxes, depreciation and amortisation rose a more sluggish 10%, due to the weak performance of the division's monocrystalline operations, inventory write-downs in Norway and the ramp-up costs associated with the Singapore plant.
REC strikes $188m deal with Asian cell producer
Norwegian integrated PV player Renewable Energy Corporation (REC) has struck a new three-year multicrystalline wafer sales contract with an unnamed Asian cell producer worth about NKr1.1bn ($188.2m). The take-or-pay contract will see REC deliver the wafers between now and the end of 2013, with the price to fluctuate based on the prevailing market.
6 January 2011 23:00 GMT
Updated
25 November 2012 15:18 GMT
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