Enphase Energy closes US$40 million in financing round

March 31, 2010
Facebook
Twitter
LinkedIn
Reddit
Email

Enphase Energy has secured US$40 million in funding, with Bay Partners leading the equity financing. This round of financing also includes participation from Horizon Technology Finance, Bridge Bank and existing investors Third Point Ventures, RockPort Capital Partners, Madrone Capital Partners and Applied Ventures.

“Enphase has captured significant market share in the inverter space in an extraordinarily short time frame. This financing will be used to fund our expansion plans and further strengthen our balance sheet,” said Sanjeev Kumar, chief financial officer of Enphase Energy. “We are pleased to have the support of Bay Partners, Horizon Technology Finance, Bridge Bank and our existing investors, and their recognition that Enphase is poised to further accelerate this market share growth.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

“Enphase has a remarkably driven management team, and an excellent track record of technology innovation. We’re excited to invest in a company that is leading the transition in the inverter market from central to microinverters,” said Sandesh Patnam, Bay Partners.

“Shipping 250,000 inverters in such a short period of time is a remarkable achievement for any company,” said Greg Clark, Managing Director of Horizon Technology Finance. “This new round of financing will enable Enphase to continue this phenomenal growth.”

Read Next

Premium
November 7, 2025
The increasing technical complexity of the renewable energy space has increased the demands on capital raising for those in the sector.
November 7, 2025
JA Solar has signed a module supply agreement with EPC contractor Larsen & Toubro (L&T) for two utility-scale projects in Uzbekistan. 
November 7, 2025
Saatvik Green Energy, through its subsidiary Saatvik Solar Industries, secured solar PV module orders worth INR2.99 billion (US$33.7 million). 
November 7, 2025
The US Geological Survey (USGS) has released the 2025 List of Critical Minerals, which includes silicon and tellurium.
November 7, 2025
Members of the European Parliament are urging the European Commission to restrict Chinese solar inverter manufacturers’ access to the bloc’s energy infrastructure, due to cybersecurity concerns.
November 7, 2025
Renewables asset fund Alantra Solar has secured €355 million to support the development and construction of five solar PV projects in Italy.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
November 12, 2025
10am PST / 1pm EST
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK
Solar Media Events
March 24, 2026
Lisbon, Portugal