Renewable Energy seeks bondholder consent to shut down REC ScanCell

By Susanna Moon

Chicago, Oct. 11 - Renewable Energy Corp. ASA said it will seek consents from holders of its bonds due 2014 for the termination of REC ScanCell AS as guarantor.

The board of directors and management of both companies have recommended assessing a shutdown of REC ScanCell AS's operations, according to a press release by Renewable Energy.

Because REC ScanCell is a guarantor of the notes, the consent of holders is needed to close the company's operations, the release noted.

Renewable Energy is a Sandvika, Norway-based company active in the solar energy sector.

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