Dec. 19 (Bloomberg) -- Centrotherm Photovoltaics AG surged the most in more than three weeks in Frankfurt as the German maker of solar equipment won a 300-megawatt order from China.
Centrotherm rose as much as 18 percent, the biggest jump since Nov. 27. It didn’t value the order from CECEP Solar Energy Technology Co. for solar-cell production systems next year.
The company’s solar cell and panel manufacturing customers are under pressure as Europe and the U.S. cut subsidies, adding to a glut of devices that has already shrunk profit margins.
While the order is a “bright spot on the horizon,” it’s “not yet a clear sign that the PV production-system market has recovered,” Hans Autenrieth, the management board member for sales and marketing at Centrotherm, said in a statement.
It rose 17 percent to 0.95 euro by 12:39 p.m. local time.
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