NAPERVILLE, Ill. ( TheStreet) -- Shares of wind turbine manufacturer Broadwind Energy ( BWEN - Get Report) hit a two-month high on Tuesday morning, after the company announced that its wind-tower subsidiary, Tower Tech, had been selected as the supplier for Gamesa wind projects to be installed in the second half of 2010.

Financial terms of the deal between Broadwind and Gamesa were not disclosed. Broadwind affiliate Tower Tech has a long-standing relationship with Gamesa.

The Gamesa deal doesn't relate directly to sales of wind turbines by Broadwind, but it was much-needed good news for the alternative energy stock, which has lost more than 50% of its value year-to-date. Weak earnings reports and commentary from management that wind turbine sales would bottom out in the first half of 2010 led to a major slide in shares of Broadwind throughout 2010.

Broadwind shares had fallen as low as $2.15 earlier at the beginning of June, a 52-week low. With Tuesday's rally of 29% for the volatile stock, Broadwind shares were back above the $3 mark for the first time since mid-May. Broadwind shares had recently gained 81 cents to a price of $3.60 on Tuesday morning.

The wind energy company shot past its average daily trading volume during morning trading, with volume approaching 3 million shares, versus an average day's trading in Broadwind Energy shares of less than 2 million in volume.

Broadwind shares reached an intra-day high of $3.76 on Tuesday morning, a share price Broadwind had not seen since early May.

Trading in Broadwind shares remains volatile. The shares are still well below the $8.12 share price at which Broadwind Energy began 2010 trading in January. Broadwind shares have traded at $4 or below since March. The wind energy stock's low share mark in 2009 was $5.56, reached in mid-November, before it rebounded to a share price near $10 to close out the previous year.

-- Written by Eric Rosenbaum from New York.

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