About REC Group
REC Group is an Energy & Utilities company based in Sandvika (Norway) founded in 1996, and was acquired by Reliance New Energy Solar in October 2021. REC Group is recognized as a leading solar panel manufacturer. It operates on a Direct-to-Consumer (D2C) and Reseller / Distribution model. Its website recgroup.com draws about 39 thousand monthly visits. Its Indian entity Renewable Energy Corporation (India) Private Limited reported revenue of ₹2.27 Cr. REC Group offers products and services including REC Alpha Pure-RX, REC Alpha Pure-R, REC Alpha Pure 2, and REC Alpha Pro M. Its focus areas include Energy, Renewable Energy and Solar Energy. Its competitors include NorSun and Otovo; 1 of its 2 listed competitors has raised funding.
Company details
REC Group is established as a prominent manufacturer of solar panels since 1996. The company is focused on the renewable energy sector, specializing in high-efficiency solar technology such as Heterojunction (HJT). Products are manufactured in Singapore, ensuring quality through advanced automation. Solutions are provided for both residential and commercial applications, supported by world-class warranties like REC ProTrust. Commitment to sustainability is emphasized through ethical manufacturing and equitable work practices. A global presence is maintained with offices in multiple regions including Europe, Asia, and the Americas.
- Headquarters Sandvika, Norway
- Stage Acquired
- SectorsEnergy & Utilities
- Email••••••••
- Phone•••• ••••
- Website recgroup.com/en-us
- Social LinkedIn X YouTube
- Acquired by Reliance New Energy Solar (Oct 2021)
- Legal Name Rec Solar Holdings As
- Date of Incorporation 27 Jul, 2012
- Jurisdiction Haryana, India
- Indian entity revenue₹2.27 Cr
FY 2023 · -25% YoY
- Indian entity net profit₹9.6 Lakh
FY 2023 · 4% margin
- Indian entity EBITDA₹14.7 Lakh
FY 2023 · 6% margin
- InvestorsEuropean Union
& 1 more
- Acquired byReliance New Energy Solar
(Oct 2021)
Associated legal entities of REC Group
REC Group operates through Renewable Energy Corporation (India) Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2023) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Renewable Energy Corporation (India) Private Limited CIN U40106HR2012FTC090670 | Active | 27 Jul 2012 | ₹2.3 Cr | 2 | View details |
Products & Services of REC Group
REC Group offers a comprehensive portfolio of products and services, including REC Alpha Pure-RX, REC Alpha Pure-R, REC Alpha Pure 2, and REC Alpha Pro M.
High-efficiency solar panels are offered with HJT technology.
Solar panels are provided with lead-free HJT technology.
Efficient solar panels are built using HJT technology.
Powerful solar panels are designed with HJT technology.
Apps and channels of REC Group
its YouTube channel RECGroupMedia has 2.16K subscribers and 30 videos.
Videos from REC Group
The most watched videos on REC Group's YouTube channel, RECGroupMedia (2.16K subscribers). Click a video to play it here.
More on RECGroupMedia.
Funding Insights of REC Group
- Total Rounds 1
- Investors Count 1
All 1 funding rounds of REC Group with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2022 | Grant | – | – |
2 investors in total: 2 institutional.
Investors in REC Group
REC Group has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include European Union and Reliance New Energy Solar.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Government entites focused on freedom, democracy, equality and the rule of law, promoting peace and stability | 1958 | europa.eu | Brussels, Belgium | |
Polysilicon solar panels are manufactured by Reliance New Energy Solar. | Sheffield, United Kingdom |
Investor details for REC Group
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Renewable Energy Corporation (India) Private Limited (REC Group)
Renewable Energy Corporation (India) Private Limited is the primary company behind REC Group. The board of Renewable Energy Corporation (India) Private Limited currently have 2 directors; the longest-serving is Somnath Yogi, appointed in 2022. 12 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Somnath Yogi DIN 09542662 | Whole-time director | 28 Mar 2022 | 4 yrs 7 mo | Renewable Energy Corporation (India) Private Limited |
| Chintala Vidur Shruthi DIN 09104051 | Additional Director | 28 Dec 2023 | 2 yrs 10 mo | Renewable Energy Corporation (India) Private Limited |
People of REC Group
62 people are tracked at REC Group (25 in leadership, 37 in team).
| Name | Role | Group |
|---|---|---|
Wee Kay Hwa | COO | Leadership |
Shankar Sridhara | Chief Technology Officer | Leadership |
David Verdu | Managing Director, REC Norway | Leadership |
Chia Wai Leng | VP, Human Resources | Leadership |
Cary Hayes | VP, Sales & Marketing Americas | Leadership |
Cemil Seber | VP, Global Marketing & Product Management | Leadership |
Alice Chia | Director, HR / Senior Director, HR (from 2015) | Leadership |
Sébastien L. | Group CFO | Leadership |
Stefan Stein | Director Pricing And Demand Analytics | Leadership |
Shankar Gauri Sridhara | Chief Technology Officer | Leadership |
Fery Riswan | Director, Engineering | Leadership |
Cha Kim Yuen | Senior Director, Strategic Sourcing & Low Carbon Footprint Business | Leadership |
Teck Cheng Tan | Snr Director Quality & HSE | Leadership |
Jan Enno Bicker | CEO | Leadership |
David Leong | Finance Director | Leadership |
Sachit Tewani | Chief Financial Officer | Leadership |
Wei King Ong | Director, Modules Manufacturing And Equipment | Leadership |
Wee Meng Chua | Vice President, Global Expansion & Engineering Design | Leadership |
C K Sowmithri | I.e And Lean Director | Leadership |
Kay Hwa Wee | Chief Operating Officer | Leadership |
42 more people are available in the full profile.
Complete people profiles for REC Group
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
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Financials of REC Group
Figures of Renewable Energy Corporation (India) Private Limited, the primary company behind REC Group, for FY 2023. Revenue was ₹2.27 Cr (-25% year on year). Net profit was ₹9.6 Lakh (4% margin). EBITDA was ₹14.7 Lakh (6% margin). Revenue has grown at a compounded annual rate of -18% over three years.
- ₹2.27 CrRevenue · FY 2023 · -25% YoY
- ₹9.6 LakhNet profit · 4% margin
- ₹14.7 LakhEBITDA · 6% margin
- ₹2.70 CrPaid-up capital
- -18%Revenue CAGR, 3 years
Balance sheet, profit and loss, cash flow and ratios of Renewable Energy Corporation (India) Private Limited are on its company page.
Detailed financial statements for REC Group
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Timeline of REC Group
3 dated milestones of REC Group across 26 years, from founding to its latest funding, stage changes and deals.
- Founded REC Group is founded.
- Exit Acquired by Reliance New Energy Solar.
- Funding First funding round.
Competitors of REC Group
REC Group has 2 listed competitors in our database, 1 of them funded. They include NorSun and Otovo.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| norsun.no | 2005 | Oslo, Norway | $100.34M | 228 | Mono-crystalline silicon wafers are supplied for the solar energy sector. | |
| otovo.com | 2016 | Oslo, Norway | 149 | Homeowners are connected to solar panel installers via a marketplace. |
Detailed competitors of REC Group
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
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Web traffic of REC Group
The website of REC Group (recgroup.com) receives about 38.7K visits a month.
- Monthly visits38.7K
▲ 9.7% vs previous month
Websites whose visitors overlap most with REC Group. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| youtube.com | 100% | 30.4B | #2 | View details | |
wafb.com | wafb.com | 87% | #43,405 | – | |
wlos.com | wlos.com | 87% | #17,079 | – | |
wbrc.com | wbrc.com | 70% | #40,765 | – | |
cbsaustin.com | cbsaustin.com | 70% | #50,269 | – | |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
| •••••••••• | ••••••.com | ••% | •.•M | #••••• | – |
All 26 similar websites and full traffic analytics for REC Group
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- 26 similar websites
- Audience overlap
- Engagement analytics
- Traffic by brand
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Related news about Rec Group
Complete news archive for REC Group
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Frequently Asked Questions about REC Group
REC Group was founded in 1996 and raised its 1st funding round 26 years after it was founded.
REC Group is headquartered in Sandvika, Norway.
The primary company behind REC Group, Renewable Energy Corporation (India) Private Limited, reported revenue of ₹2.27 Cr for FY 2023, down 25% year on year.
REC Group is established as a prominent manufacturer of solar panels since 1996. The company is focused on the renewable energy sector, specializing in high-efficiency solar technology such as Heterojunction (HJT). Products are manufactured in Singapore, ensuring quality through advanced automation. Solutions are provided for both residential and commercial applications, supported by world-class warranties like REC ProTrust. Commitment to sustainability is emphasized through ethical manufacturing and equitable work practices. A global presence is maintained with offices in multiple regions including Europe, Asia, and the Americas.
REC Group offers REC Alpha Pure-RX, REC Alpha Pure-R, REC Alpha Pure 2, and REC Alpha Pro M.
REC Group has 2 investors. Key investors include European Union, and Reliance New Energy Solar.
REC Group operates through Renewable Energy Corporation (India) Private Limited.
Yes. REC Group was acquired by Reliance New Energy Solar in October 2021.
The legal entities of REC Group currently have 2 directors, including Chintala Vidur Shruthi, Somnath Yogi.