MLPE

Revenue for the Israeli power electronics company rises 22% sequentially in third quarter to reach $166.6 million. More than 676 MW of inverters shipped helped drive gross margin of 34.9%.

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.

The Enphase IQ microinverter is around 30% lighter than previous iterations and will serve to usher in Enphase Energized AC Modules to the U.S. residential solar sector.

Growth in distributed renewable power generation is sparking raft of regulatory requirements that benefit module level power electronics, says a Frost & Sullivan report.

Extension of long-term loan facility with Tennenbaum Capital Partners used to pay-down Wells Fargo line of credit and support Enphase’s expansion efforts for its home energy solution.

Israeli module level power electronics firm posts highest gross margin to date despite slowdown in U.S. residential market, which remains the firm’s chief revenue stream.

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.