(Yicai Global) Jan. 22 -- China’s Flat Glass Group has secured a three-year photovoltaic glass order from Risen Energy worth up to CNY8.9 billion (USD1.38 billion), it announced yesterday, just after it signed a CNY14.2 billion order at the end of last month.
Shares of Jiaxing, Zhejiang province-based Flat Glass [SHA:601865] were trading 6.75 percent up at CNY41.74 (USD6.35) in midmorning on the news.
Flat Glass Group, the second-largest PV glass supplier in China by market share, and Chinese solar cell module giant Risen Energy announced their cooperation in separate statements yesterday.
Flat Glass and its various units will supply about 234 million square meters of PV glass to Ningbo, Zhejiang province-based Risen Energy in three years from the first day of this year to the last day of 2023, per the deal. The total amount equals a PV cell module size of 34 gigawatt.
The specifications and quantity of the products are to be subject to the actual orders the two parties sign, and price will be negotiated on a monthly basis based on the market quotes for similar products, the statements added.
The signing of this agreement will facilitate the marketing of Flat Glass’ large size, thin sheet PV glass products, it said in its announcement, but without detailing precise specifications.
Flat Glass inked a deal worth CNY14.2 billion with PV cell giant JinkoSolar Holding and its affiliates to supply about 338 million sqm of PV glass in the next three years, it declared on Dec. 31.
Flat Glass plans to spend CNY4.4 billion to build five kilns able to process up to 1,200 panes of PV glass daily each and supporting processing production lines in Chuzhou in eastern Anhui province to meet rapidly growing demand, it said in another statement last month.
Editor: Ben Armour, Xiao Yi