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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Enphase Energy, Inc.    ENPH

ENPHASE ENERGY, INC.

(ENPH)
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Enphase Energy : Joins Forces with MSpectrum to Provide Solar Solutions in the Philippines

11/16/2020 | 08:02am EST

FREMONT, Calif., Nov. 16, 2020 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ: ENPH), a global energy management technology company and the world’s leading supplier of microinverter-based solar-plus-storage systems, today announced that it has entered into an agreement with MSpectrum, a solar energy renewable provider with headquarters in Pasig, Philippines, to distribute Enphase products to residential and commercial installers across the Philippines. The Enphase IQ 7™ family of products is expected to be available via MSpectrum starting in the first quarter of 2021.

MSpectrum, the renewable energy division of Manila Electric Company (MERALCO), will distribute the Enphase IQ 7 family of microinverters, which includes IQ 7, IQ 7+™, IQ 7A™, and IQ 7X™, to residential and commercial installers. In addition, the solar systems will be outfitted with Enphase Envoy™ communications gateways, which connect an Enphase-based solar system to the Enphase Enlighten™ software monitoring platform and help make per-panel energy monitoring and insights for operations and maintenance easy.

“We are proud to provide Enphase Energy seventh-generation microinverters in the Philippines,” said Robert Pereja, chief operating officer of MSpectrum. “This next-generation technology will benefit solar customers through its high performance, flexibility, reliability, and most importantly, safety, due to the rapid shutdown device (RSD) built into Enphase microinverters. We aim to work with Enphase to revolutionize the solar industry in the Philippines and motivate more Filipinos to shift from traditional to renewable sources of energy.”

“Enphase’s track record of quality manufacturing, technology, and credibility were some of the major factors for us to join forces with the company,” said Michael Paul Miranda, managing director, 8AM Engineering Services. “As a solar installer in the Philippines, we are pleased that Enphase microinverters have built-in RSD protection, low voltage AC, a simple installation process, and distributed architecture. We look forward to working with Enphase to bring more solar solutions to the Philippines.”

The IQ 7 family of microinverters leverages Enphase’s unique software-defined architecture and semiconductor integration for excellent reliability and economies of scale. Enphase microinverters are subjected to a rigorous reliability and quality testing regimen with more than an aggregated one million hours of cumulative power-on testing to help ensure exceptional performance under heat, high humidity, salty air, and cold. The design is compatible with operating in hot, humid and coastal conditions such as those found in the Philippines.

“We are pleased to join forces with MSpectrum to distribute our products in the Philippines,” said Dave Ranhoff, chief commercial officer at Enphase Energy. "The country’s solar market has great potential for Enphase, particularly in the residential and small commercial rooftop market segment. We believe Enphase's unique value proposition of high-output performance and flexible installation, as well as a safe low voltage all-AC system architecture and rapid shutdown capability, resonates well in the Philippines solar market."

To learn more about the Enphase and MSpectrum distribution partnership in the Philippines, please visit MSpectrum’s booth at the virtual Future Energy Show Philippines from Nov. 16-17, 2020, where MSpectrum and Enphase will host Enphase product demonstrations, marking the beginning of the collaboration between Enphase and MSpectrum in the Philippines solar market.

About Enphase Energy, Inc.

Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. The Company revolutionized solar with its microinverter technology and produces the world’s only truly integrated solar plus storage solution. Enphase has shipped more than 30 million microinverters, and approximately 1.3 million Enphase-based systems have been deployed in more than 130 countries. For more information, visit www.enphase.com and follow the company on Facebook, LinkedIn and Twitter.

Enphase Energy, Enphase, the E logo, Enphase Energized, IQ 7, IQ 7+, I 7A, IQ 7X, Envoy, Enlighten, and other trademarks or service names are the trademarks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

Forward-Looking Statements

This press release may contain forward-looking statements, including statements related to Enphase Energy's  availability dates for its products, the expected performance and advantages of its technology and products, including quality, safety, reliability, life expectancy, the simplicity of installation, the ease of monitoring and maintenance, and the ability to future proof and scale systems; anticipated product adoption in the geographies and markets we target; and the capabilities and performance of its partners’ products and services. These forward-looking statements are based on Enphase’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of certain risks and uncertainties including those risks described in more detail in Enphase’s most recent Annual Report on Form 10-K and other documents on file with the SEC and available on the SEC’s website at www.sec.gov. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

Enphase Energy Contact:

Robin Yan
General Manager, Emerging Markets
ryan@enphaseenergy.com
+1 (650) 864-2666


Enphase_Logo_Standard_orange_gray_RGB copy.jpg

Source: Enphase Energy, Inc.

2020 GlobeNewswire, Inc., source Press Releases

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Financials (USD)
Sales 2020 765 M - -
Net income 2020 103 M - -
Net cash 2020 348 M - -
P/E ratio 2020 256x
Yield 2020 -
Capitalization 24 078 M 24 078 M -
EV / Sales 2020 31,0x
EV / Sales 2021 18,8x
Nbr of Employees 577
Free-Float 91,2%
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 164,13 $
Last Close Price 190,59 $
Spread / Highest target 33,3%
Spread / Average Target -13,9%
Spread / Lowest Target -51,2%
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Managers and Directors
NameTitle
Badrinarayanan Kothandaraman President, Chief Executive Officer & Director
Jeff McNeil Chief Operating Officer & Vice President
Eric Branderiz Chief Financial Officer & Executive Vice President
Martin Fornage Chief Technology Officer
Ben Kortlang Independent Director
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