Chinese photovoltaic (PV) cell maker Solarfun Power Holdings Co Ltd said its unit, Jiangsu Linyang Solarfun Co Ltd, has received three contracts to supply 12.65 megawatt (MW) PV modules to projects in China.

Shares of the Shanghai-based company rose 7 percent to a new year-high of $10.78 in morning trade Monday on Nasdaq.

Of the total supply, the company said it delivered 10 MW PV modules for a project based in Xuzhou City, during the fourth quarter.

The other two contracts totaling 2.65 MW are for a government funded project in Anhui Province.

The company also said it was one of the four companies to win the bid to participate in the 15 MW project funded by Anhui Province, which is expected to be delivered during 2010.

(Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Gopakumar Warrier)