The Singapore-based company, now part of the Bluestar Elkem Group, reported second-quarter revenues of $168m, compared with $176m in the corresponding period last year.

REC shipped 130MW of modules to the US - a big improvement on the 16MW in the comparable three months of 2014 - accounting for half of its total sales for the quarter.

In Europe, where REC holds a strong position in Germany, shipments dropped to 53MW from 135MW in the second quarter of last year, However, this still comprised 20% of sales.

Hailing