(Yicai Global) June 24 -- Shares in Jiangsu Zhongli Group surged by the exchange-imposed daily limit today after the Chinese optical cable manufacturer announced that one of its units has signed an exclusive deal to supply photovoltaic modules to a solar power plant being built by Spanish renewable energy firm Aeronaval de Construcciones e Instalaciones.

Zhongli’s share price [SHE:002309] soared 10 percent to close at CNY5.82 (USD0.90).

Suzhou Talesun Solar Technologies will provide ACISA, which is owned by one of Spain’s biggest construction groups Grupo Aldesa, with USD40 million worth of solar panels for the construction of a 169-megawatt solar power plant in Spain’s Cuenca province, Zhongli said yesterday. The power plant is scheduled to be finished by the end of the year.

The deal will help increase Zhongli’s reputation in Europe and boost its market share in the PV sector of the European market, it said.

Editor: Kim Taylor