(Yicai Global) April 7 -- Flat Glass Group, China's second-largest supplier of photovoltaic glass, has received an order worth about CNY8.1 billion (USD1.2 billion), equivalent to just over half of the company’s revenue last year.

Flat Glass will supply 378 million square meters of PV glazing to solar power plant developer and operator Astronergy New Energy Technology and its 16 units from this July to December 2025, the Jiaxing-based firm said late yesterday. The consignee includes Astronergy's overseas unit, it noted. 

The deal is expected to be worth around CNY8.1 billion based on the current average market price of 3.2-millimeter and 2.0 mm PV glass compiled by commodity market research platform SCI99, Flat Glass said. Each month's pricing will be negotiated in the prior month, it added.

The order is the equivalent of 52 percent of Flat Glass' operating revenue in 2022, and it will help market the firm's large and thin PV glass and steady sales, it noted.

After jumping by as much as 3.6 percent earlier today, shares of Flat Glass [SHA: 601865] finished 0.2 percent up at CNY33.29 (USD4.85) each.

Astronergy has 8 gigawatts of installed capacity globally and an annual capacity of 5 GW of solar panels, according to the Zhejiang province-based firm's website.

Editor: Martin Kadiev