Enphase To Purchase SunPower Microinverter Business

By Frank Andorka By Frank Andorka, Senior Correspondent

After the stock market closed, Enphase Energy – the once-struggling microinverter company that is seeing a resurgence under CEO Badri Kothandaraman, announced it was buying SunPower’s microinverter business for $25 million and 7.5 million shares of common stock.
Enphase stock rose 16% after the announcement.
The transaction means Enphase will now supply the microinverter technology for SunPower’s AC modules instead of SunPower producing the microinverters on their own. Tom Werner, SunPower CEO, tipped his hand about why the transaction took place in the release. He said the transaction will allow SunPower to “continue containing costs, leveraging R&D support

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