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

March 16, 2026
US solar tracker producer GameChange Solar will supply 258MWp worth of solar trackers to a solar-plus-storage project in Egypt.
Premium
March 16, 2026
Solargik's Morag Am-Shallem, Greg Ravikovich and Eitan Har-Shoshanim examine how AI addresses the challenge of data overload in solar PV.
March 16, 2026
Finlight and Atrato Onsite Energy have merged, aiming to increase their operational solar capacity in Europe to over 2GW by 2030.
March 16, 2026
Indian PV manufacturer Waaree Energies has broken ground on its 10GW solar ingot and wafer manufacturing plant in Butibori, Nagpur, Maharashtra.
March 16, 2026
Legislators in Maryland have launched a new legislative measure that will boost solar PV and energy storage.
March 16, 2026
New Zealand energy company Genesis Energy has officially begun construction on its 136MWp Tihori Solar Farm in Edgecumbe, Bay of Plenty.

Upcoming Events

Solar Media Events
March 24, 2026
Dallas, Texas
Solar Media Events
April 15, 2026
Milan, Italy
Solar Media Events
June 16, 2026
Napa, USA
Solar Media Events
October 13, 2026
San Francisco Bay Area, USA
Solar Media Events
November 3, 2026
Málaga, Spain