The agreements were signed with a major engineering, procurement and construction (EPC) company in the US. The multimillion-dollar deal confirms the group’s accelerating momentum in the country across all segments and also marks the first purchase orders for REC’s Peak Energy 72-cell series. These panels were introduced in July to meet the specific requirements of the US utility and large commercial markets and will be delivered to the EPC customer from July 2015 until February 2016.
“REC has already doubled its US order intake over the past 12 months, thanks to the recent big wins with residential leaders SolarCity and Sunrun” said Martin Cooper, CEO of REC Group. ”With our new 72-cell product, we are seizing opportunities in the U.S. large commercial and utility markets and are demonstrating significant growth in line with our expectations.”
The utility segment accounts for the largest portion of solar installations in the burgeoning US market. GTM Research has predicted that the segment will exceed 3GW of new installations in 2014, increasing to nearly 6GW by 2016. Much of the growth is expected to come from states such as Colarado, North Carolina, Georgia and Texas.
“Signing these substantial agreements less than two months after the announcement of REC’s 72-cell, 1000-volt panel offering confirms the strong demand for our high-quality, duty-free products in all market segments from residential to utility scale” added Arndt E. Lutz, Senior VP, North America & Carribbean, REC Group. “Based on our discussions with several large EPC firms and developers in the U.S., we believe that our order pipeline in the U.S. will continue to increase”
The Peak Energy 72-cell Series panels are rated at 310 watt and 1000 volts DC. They are especially suitable for utility and large commercial integrators, helping to reduce installation costs and using fewing balance of system components resulting in a lower overall cost per installed watt. A growing majority of US solar projects over 500 kilowatts in size, currently under development or under construction, will employ these larger, higher voltage panels, according to GTM Research.
REC Group will be exhibiting its new 72-cell solar panel alongside its other REC Peak Energy Series panels in Booth 357 at the Solar Power International show in Las Vegas, October 21-23, 2014.
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