Hanergy in talks to strengthen business ties with IKEA in UK

Hanergy has said it 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.