Renewable Energy Corporation ASA (REC) reported fourth quarter 2011 revenues of NOK 2,865 million and EBITDA of NOK 178 million. EBITDA was negatively affected by a weak solar market, aggressive polysilicon pricing and close down of production capacity in Norway. Affecting EBIT, REC recognized a further NOK 2.5 billion impairment on fixed assets of the Singapore operations in the quarter. REC reduced net debt by NOK 0.6 billion in the fourth quarter to NOK 4.7 billion. After a steep price d...