The module and microinverter giants have worked together to introduce a new AC module comprising Enphase’s IQ6 microinverter affixed to JinkoSolar’s mono PERC modules.
In a move that caught some by surprise, the third member of the founding team at Enphase said he felt it was time for a new CEO to continue its global growth. The company expects to name a new CEO by Aug. 31.
Deal sees the U.S. microinverter specialist license its marketing, sales and manufacturing rights to Flextronics, one of the world’s largest global electronics manufacturers and a longstanding partner of Enphase.
Around 75 jobs will be lost during the microinverter specialist’s restructuring drive, which reflects increased price pressure across the segment, both globally and in the U.S.
SEC filing outlines proposed changes, described by company CEO Paul Nahi as “necessary to create path to sustained profitability”. Restructuring will cost estimated $2 million and follows announcement last year of staff losses.
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