Renewable Energy Corp.

On 25 February 2010, as part of the REC 2007 Long Term Incentive Plan, Renewable Energy Corporation ASA has today purchased 13,850 shares at an average price of NOK 21.07 per share and has allocated 28,244 shares to employees participating in the Long Term Incentive Plan. Four primary insiders in Renewable Energy Corporation ASA were allocated in total 13,217 shares under the 2007 Long Term Incentive Plan.

Enclosed is REC's interim results presentation for the fourth quarter 2009. The presentation will be held at 08:00 CET today at the Oslo Konserthus (Oslo, Norway).

More details on today's program and the presentation will available on REC's internet pages: www.recgroup.com

About REC

Renewable Energy Corporation ASA (REC) reported revenue of NOK 2,676 million in the fourth quarter 2009, an increase of 12 percent the fourth quarter 2008. Revenue for the full year 2009 amounted to NOK 9,156 million, which was also a 12 percent increase from 2008.

All slurry recovery plants are currently running stably after last week's fire, buffer stock of slurry allowed REC Wafer's operations to continue as normal.

SiC Processing AS yesterday had a fire in one of its two slurry plants at the Herøya industrial complex, and will take down the plant and a similar plant in Glomfjord to seek for the root cause of the fire.

The company supplies slurry for wafer sawing to REC Wafer and the plant in question supplies REC Wafer's two newest production plants, Herøya III and IV. A prolonged shut down may affect REC Wafer's production capabilities at some of REC's wafer lines.

Renewable Energy Corporation ASA (REC) is pleased to invite financial analysts and investors to attend a special field trip to REC's polysilicon plant in Moses Lake, Washington (WA), USA on March 16, 2010.

The number of participants will be limited, and analysts and investors who are interested in attending will have to register in advance. Priority will be given to sell-side analysts that are covering REC and current REC shareholders. Please note that we will only be able to accommodate one representative per company.

U.S. President Barack Obama on Friday January 8, 2010 announced the award of $2.3 Billion in Federal Tax Credits for investment in advanced energy manufacturing projects.

REC has received confirmation that its US subsidiary, REC Silicon, has been awarded approximately $155 million in Recovery Act Advanced Energy Manufacturing Tax Credits. REC is pleased to have been awarded these tax credits, and is in the process of assessing how the credits will be applied and implemented.

About REC

REC and ECN (Energy research Center of the Netherlands) have together made the world's first multicrystalline solar panels with 17.0 percent efficiency.

The previous world record at 16.5 percent was beaten in the innovation race where the solar industry takes frequent leaps in technology development to make solar power a mainstream energy source in the near future.

Jon Andrè Løkke (39) will take on the position as Senior Vice President in REC Wafer, with responsibility for the business development and the company's expanding operations within monocrystalline wafers. Løkke will also take on the responsibilities as deputy to EVP Einar Kilde in REC Wafer.

REC has, as part of the employee share purchase program approved by the Annual General Meeting May 19, 2009, purchased 274,540 own shares at an average price of NOK 34.91 per share. The shares will be allocated to the employees under the employee share purchase program.

Under the share purchase program for employees, four primary insiders in REC purchased in total 3,436 shares at a price of NOK 27.94 per share after the discount offered to the employees.