Norwegian solar firm Renewable Energy Corp plans to halt 60 percent of the capacity of its 650 megawatt multicrystalline wafer facility at Heroeya as global economic turbulence has cut demand and depressed prices, the firm said.
"The debt crisis in Europe and the turmoil in the capital markets continue to have severe negative impact on demand in the solar market," the company said in a statement on Tuesday.
It added that unless the solar market improved, further production cuts would be made.
