Norway's REC Group has signed a supply agreement with leading U.S. solar leasing provider Sunrun.
As part of the deal, Sunrun will buy a minimum of 50 MW and up to 100 MW of REC's Peak Energy Series solar panels in 2015. The agreement also signifies REC Group's plans to further increase its footprint in the U.S.
"The U.S. will be an increasingly important market for REC," said REC CEO Martin Cooper. "With a combination of our flexibility to selectively dispatch our products across our global market network and ability to develop a new 72-cell production capacity, we have been able to quickly position ourselves well to take advantage of this opportunity. However, in the long term, the overall high-quality and reliability of our products remain the crucial factors for past and upcoming contracts."
Sunrun Chief Operating Officer Paul Winnowski added that access to high quality, high performing panels was critical for the company and its customers. "Our certified installers believe REC's high-performance PV panels are one of the best rooftop solar products available and the company's unwavering commitment to quality, strong financial position and trustworthy reputation make them an ideal partner for Sunrun."
This latest deal follows REC's announcement of its 72-cell utility-scale panel product for the U.S. market and other supply agreements, which have contributed to REC doubling its U.S. order intake over the past 12 months.
"This partnership with an industry leader like Sunrun further demonstrates REC's commitment to the rapidly growing U.S. market," said Arndt E. Lutz, senior vice president of REC Group and managing director of its North American business. "The agreement bolsters our position as a competitively priced and trade-compliant supplier of bankable PV panels."
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