RECOM Solar announces 200 Megawatt Solar Cell manufacturing facility in Northern Italy

Company Increases Commitment to meet growing demand for Buy American Act compliant and Tariff Free Panels

Frankfurt, Germany, April 22 2015 – the leading European manufacturer of solar photovoltaic (PV) products today announced plans to own and operate a solar cell manufacturing facility in Northern Italy to meet the growing demand for Buy American Act compliant and tariff free solar panels in the European Union and in the United States.

At this new plant, RECOM will manufacture its high efficiency RECOM Solar Cells and expects to produce up to 180-megawatts (MW) annually over the next few months.  The company estimates that it will create up to 90 local jobs and has started recruitment efforts in the first quarter of 2015.  This facility will also house RECOM’s Engineering and Research & Development team consolidating its European technical department into one building.

“RECOM has a significant presence in the European Union solar market since 2008.  By manufacturing our high efficiency solar cells at this new facility, we will not only help the local economy, but continue to deliver clean, renewable energy to this region,” said Laert Tunyan, Chief Executive Officer of RECOM.  “Our investment in this new plant is part of our commitment to lower our costs for the European and US PV market, and meets our objective to build a sustainable business through local investment and create jobs in the medium and long-term.”

RECOM Italy, a subsidiary of RECOM Holding, operates solar panel manufacturing plants in Europe and Asia through contract manufacturing and joint ventures, and plans to fully certified its cell factory in Northern Italy in second half of 2015.