REC Solar module shipments for 2016 exceed 1.2 GW

The Norwegian solar manufacturer REC Solar, a subsidiary of Chinese chemical company China National Bluestar Group, has reported that its global module shipments for 2016 reached 1,266 MW. This result represents a 9% increase compared to 2015, when the company shipped 1,159 MW. In 2014 and 2013 total shipments reached 918 MW and 834 MW, respectively.

In the fourth quarter alone, REC Solar registered shipments in the amount of 349 MW. This quarter, the company said, was the second best quarter ever, the best quarter ever in EMEA and the second best quarter ever in APAC. Furthermore, the company said it was able to double its market share in Germany to 13% during the latest quarter.

Americas accounted for around 53% of REC Solar shipments last year. In this region demand was particularly strong for residential PV projects, the company stressed in its report.  Shipments to Americas, however, declined by 33% over the third quarter of last year.

The company has not provided specific figures about sales in terms of revenue and average selling prices.

Furthemore, REC Solar said in the report that Elkem Solar, which is a solar-grade silicon producer also owned by China National Bluestar Group, has secured a 25.6 million NOK ($3 million) funding from Norwegian public company Enova. The company intends to use the funds for restructuring and investments in the production process.