Correction: Further investigations with Hanergy indicated that the potential takover was an internal transaction within the company and not related to Hanergy acquring an outside enterprise within the UK.
It had been reported that Hanergy was in takeover talks with a key PV installer to contribute to its work with a major “household furniture retail chain”. The company has already sealed a thin-film module supply agreement with retail furniture chain IKEA in the UK.
In a financial statement issued by the company in response to volatile trading of its shares on the Hong Kong exchange, Hanergy revealed it was in preliminary discussions over a possible acquisition.
The company also noted that it was in discussions with a large automobile glass manufacturer in China over a possible technology cooperation project that related to the development of automobile solar glass using flexible thin film solar modules.
In September, 2013 Hanergy announced a deal with IKEA in the UK that would see the retail giant offer PV installations to customers in all 17 of its stores in the country, using Hanergy’s CIGS thin-film modules.
IKEA made the decision to stock solar in all its stores after a successful pilot project at its Lakeside store on the outer edge of East London which had benefitted from selling around one solar PV array every day during the pilot scheme.