(Yicai Global) Oct. 25 -- Shares of Luoyang Glass jumped despite a falling stock market after the glass manufacturer said it has received its second photovoltaic glass order in less than two weeks.

Luoyang Glass's stock price [SHA: 600876] jumped by 10 percent to CNY22.02 (USD3) as of 2.01 p.m. Meanwhile, Shanghai's SSE Composite Index climbed 0.3 percent to 2,985.01.

Solar module giant Trina Solar and its eight units will purchase PV glass to be used in 30-gigawatt of PV modules from Luoyang Glass for two years ending October 2024, the Henan province-based seller said in a statement yesterday. The parties will determine the pricing on a monthly basis.

The seller did not estimate the value of the deal, but assuming that manufacturing one GW of solar modules requires about 10 million square meters of PV glass, the order involves about 300 million sqm of PV glass. Such glass costs from CNY20 (USD3.60) to CNY26.5 per sqm so the value of the deal could be about CNY6 billion (USD821.3 million) or more.

The deal will be helpful for Luoyang Glass in establishing a long-term and stable strategic partnership with clients to promote business synergy and mutual benefits, it said.

This is the second PV glass order the leading supplier announced in less than two weeks. On Oct. 12, Luoyang Glass said its Yixing-based unit secured a two-year order of 200 million sqm of PV glass worth at least CNY4 billion from Zhejiang province-based Das Solar.

Editor: Emmi Laine, Xiao Yi