Under the terms of the agreement, REC will deliver the recently launched Peak Energy 72 Series panels, at a fixed price, from Q1 2015 until Q2 2016.
REC Group CEO Martin Cooper said: "With our successful push into the U.S. market, we have been able to build up an order book that significantly exceeds our 300 MW panel manufacturing expansion in 2015.
"Our expanded order book will allow for greater planning visibility and assist in further stabilizing our financial performance.
"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."
REC’s agreements with Recurrent Energy are the latest in recent series of major photovoltaic panel supply agreements in the US market.
Over the past month, REC has signed agreements of 685MW for the US residential, commercial and utility-scale segments and approximately 532MW of these is expected to be delivered in 2015.
REC is a global provider of solar energy solutions and offer sustainable, high performing products, services and investments for the solar industry.
Image: REC, over the past month, signed agreements of 685MW for the US residential, commercial and utility-scale segments. Photo: courtesy of Naypong/Freedigitalphotos.net.
