REC Silicon ASA (RNWEF) has released an update.
REC Silicon ASA has successfully extended its $30 million loan with Standard Chartered Bank, backed by their largest shareholder, Hanwha Solutions. This extension, maturing in June 2025, supports the company’s operational financing and its ongoing expansion efforts, including the restart of Moses Lake operations. With a strong foothold in the semiconductor industry and potential growth in the US solar PV and EV battery sectors, REC Silicon is poised to leverage global digitalization and energy trends.
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