Norway's Renewable Energy Corp's (REC) and Seattle-based Summit Power have sold their North Star solar power plant project in California to First Solar, an American solar firm, the Norwegian company said on April 10.

As part of REC Groups previously announced closure of certain wafer and cell production plants in Norway, a sale of the equipment from three plants is to be organised by surplus asset management firm, GoIndustry Dovebid.

REC modules were selected for a 60MW module supplier agreement with the German project developer GP JOULE for solar power plant installations in France and Germany.

REC modules were selected for a 5MW module solar power plant developed by Kanoria Chemicals & Industries Limited ("KCI") which is among the first projects to benefit from the Renewable Energy Certificate Mechanism in India.

China Sunergy and REC Wafer have spent the last few years to-ing and fro-ing between courts in Norway and China in the hope of reaching a settlement over the termination of a supply contract by REC Wafer.

Renewable Energy Corp. ASA, a Norwegian maker of solar-power components, extended a shutdown of plants in Norway until the end of the year because demand for wafers and cells has failed to pick up.

A $1.2 billion write-down by solar equipment maker REC on Tuesday highlighted the pain being inflicted by aggressive Chinese competition and may herald wider consolidation in the sector and flattening of prices.

Norway's Renewable Energy Corp posted forecast-beating earnings on Wednesday, but warned of waning demand, oversupply and price pressure as political uncertainty clouds key European solar markets.