REC Solar is owned by Bluestar Elkem, a global leader in the solar industry providing high-quality solar solutions for residential, commercial, and utility-scale projects.

Renewable energy is becoming an increasingly significant part of the global energy landscape. Solar power, in particular, has emerged as a highly sought-after source of clean and sustainable energy. As the demand for solar energy continues to grow, so does the importance of identifying the key players in this industry.

One prominent company making waves in the solar industry is REC Solar. Founded in Norway in 1996, REC Solar has risen to become a leading provider of solar panels and solutions worldwide. With a global presence spanning more than 160 countries, REC Solar has established itself as a force to be reckoned with in the renewable energy field.

However, answering the question of who owns REC Solar is not as straightforward as one might expect. REC Solar's ownership structure has undergone significant changes throughout its history, and the company has experienced both acquisitions and mergers.

In 2010, REC Solar underwent an initial public offering (IPO) and became a publicly listed company. At that time, REC Solar was majority-owned by the Norwegian state, with the Norwegian Ministry of Trade, Industry, and Fisheries holding a substantial share in the company. This ownership structure allowed the Norwegian government to have a significant influence on REC Solar's operations and strategy.

However, in 2014, REC Solar went through a major change when it was acquired by the Chinese company, China National Bluestar (Group) Co., Ltd. (Bluestar). Bluestar, a subsidiary of the state-owned China National Chemical Corporation (ChemChina), purchased an 80% stake in REC Solar, effectively making it the majority owner.

Bluestar's acquisition of REC Solar was a significant move in China's strategy to expand its presence in the global renewable energy market. With this acquisition, China gained access to REC Solar's cutting-edge solar technology and gained a foothold in the European and American solar markets.

The acquisition of REC Solar by a Chinese company sparked some concerns and regulatory scrutiny. Given the strategic importance of renewable energy, many countries have established regulations to safeguard their energy assets and ensure national security. As a result, governments have closely monitored acquisitions in the renewable energy sector, particularly those by foreign entities.

The acquisition of REC Solar by Bluestar was subject to approval from the Norwegian government. The deal had to meet strict national security criteria and ensure that national interests were protected. Eventually, after thorough scrutiny, the Norwegian government approved the acquisition, allowing Bluestar to become the majority owner of REC Solar.

Following the acquisition, REC Solar was integrated into Bluestar's broader energy portfolio. Bluestar has a range of investments in the energy sector, including oil and gas, chemicals, advanced materials, and now renewables. This integration allowed REC Solar to benefit from Bluestar's financial backing and global reach, facilitating its expansion as a leading provider of solar solutions.

It is important to note that while Bluestar owns a majority stake in REC Solar, the company still maintains its Norwegian identity and continues to operate independently. REC Solar's management team, comprised of experienced professionals in the solar industry, is responsible for the day-to-day operations of the company. The acquisition by Bluestar has not resulted in any significant changes to REC Solar's operations or its commitment to delivering high-quality solar solutions.

In March 2021, news emerged that REC Solar was once again placed on the market for sale. The Chinese government's tightening regulations on how assets are managed and controlled by Chinese companies prompted Bluestar to explore divestment options for REC Solar. However, as of now, no definitive buyer has been identified, and REC Solar continues to operate under Bluestar's ownership.

In conclusion, REC Solar, a globally recognized provider of solar solutions, is currently majority-owned by Bluestar, a subsidiary of China National Chemical Corporation. This acquisition in 2014 expanded China's presence in the global renewable energy market and brought REC Solar under the umbrella of a state-owned Chinese company. However, as the renewable energy landscape evolves, REC Solar's ownership may change again, as it is currently being placed on the market for sale. Regardless of ownership, REC Solar remains at the forefront of renewable energy innovation, delivering cutting-edge solar solutions to customers worldwide.