(Yicai Global) Oct. 13 -- Luoyang Glass, a Chinese manufacturer of photovoltaic glazing products, said one of its units has received a long-term order from DSA Solar for 200 million square meters of PV glass, which can convert sunlight into power.

Luoyang Glass will supply DSA Solar with 20 million sqm of PV glass every quarter until Sept. 30, 2024, the Luoyang-based company said late yesterday, citing the agreement it signed with the buyer on Oct. 11.

Luoyang Glass did not provide product specifics or the value of the deal, as pricing will be negotiated at the time of delivery. But the order could be worth at least CNY4 billion (USD560 million) based on current market prices of CNY20 (USD2.78) per sqm for 2 millimeter PV glass and CNY26.50 per sqm for 3.2mm PV glass.

The firm's stock price [SHA: 600876] closed unchanged at CNY19.87 (USD2.76), after earlier gaining as much as 4 percent.

Founded in 2018, DAS Solar is a high-efficiency solar cell and panel supplier rapidly expanding its production capacity. By the end of the year, the firm’s annual capacity of N-type high-efficiency solar cells and panels is expected to reach 20 gigawatts, and it is likely to rank among the world's top 10 by shipments, a Chinese media report has cited a company executive as saying.

Editor: Futura Costaglione