On Friday, shares of the Chinese solar company rose 14.7%, or $2.27, to close at $17.76 on the Nasdaq after it announced it penned a deal to deliver solar panels with 60 megawatts worth of yearly generating capacity for projects in Spain, expanding its position in a key corner of the solar market.

Canadian Solar said it would start delivering the shipments to the German City Solar Group, which is managing the projects, immediately. It expects installation to be complete by the summer.

The company did not disclose financial terms of the agreement.

Canadian Solar (nasdaq: CSIQ - news - people ) recently delivered 11.7 megawatts worth of solar modules to City Solar for three large-scale solar power projects in Germany.

Spain and Germany are considered key markets for the solar industry because of government incentives that have rapidly accelerated demand. Germany generates the most solar energy from photovoltaic panels in the world, with Spain ranking fourth behind the U.S., according to the Solar Energy Industries Association.

On Wednesday, Canadian Solar led its sector’s rise on the stock market after it announced a very strong quarterly report due to strong demand and operational improvements. (See “Sunny Day For the Solar Sector”)