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Norwegian Firm Cuts Solar Capacity

by Melody M. Bomgardner
December 5, 2011 | A version of this story appeared in Volume 89, Issue 49

Norwegian solar energy firm Renewable Energy Corp. will cut output of multicrystalline silicon wafers by 60% at its 650-MW facility in Herøya, Norway. The shutdown will last through the first quarter of 2012 and affect 200 workers. REC cites low market prices for the move; prices for solar modules, wafers, and silicon have declined 10%, 30%, and 35%, respectively, since Oct. 1, according to the firm. Demand is also slack, REC says, in part because of the debt crisis in Europe and turmoil in the capital markets.

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