(Yicai Global) Feb. 15 -- Shares of Shuangliang Eco-Energy Systems surged after a unit of the Chinese photovoltaic wafer maker received a CNY16 billion (USD2.5 billion) order from Trina Solar.

Shuangliang [SHA: 600481] closed 6.6 percent up at CNY11.15 (USD1.76) today, after earlier soaring as much as 8 percent.

Shuangliang Silicon Material Baotou will supply solar panel maker Trina Solar with nearly 1.9 billion large-sized monocrystalline silicon wafers from this year to 2024, according to the deal signed yesterday. The unit will supply 392 million this year and increase the amount every year to reach 900 million in 2024.

Prices will be negotiated on a month-by-month basis, Jiangsu province-based Shuangliang said. Based on current market prices, the order is worth about CNY16 billion.

Since September, Shuangliang Baotou has received three-year silicon wafer orders from seven leading solar cell manufacturers worth a total of about CNY47.7 billion (USD7.5 billion). The one from Trina Solar is the largest by value and quantity, the company noted.

Shuangliang invested CNY14 billion to build the 40-gigawatt facility in China’s Inner Mongolia Autonomous Region run by Shuangliang Baotou. The first phase, with an annual output of 20 GW, began production last September. It is expected to be completed and reach full capacity next year.

Net profit at Shuangliang is likely to have soared between 107.8 percent and 147.4 percent to CNY210 million to CNY250 million (USD33.1 million to USD39.4 million) last year, amid strong demand and rising prices of solar products’ processing equipment, the firm said on Jan. 15.

Shares of Trina Solar [SHA: 688599] closed up 2.5 percent at CNY59.24 (USD9.33).

Editor: Futura Costaglione