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

November 14, 2025
NSW has removed regulatory barriers that previously prevented owners of heritage-listed properties from installing rooftop solar.
November 13, 2025
QIC and EDP Renewables Australia have signed an agreement to develop a 400MWac solar-plus-storage project in Toowoomba, Queensland.
November 13, 2025
Xcel Energy will have to provide higher-quality data, and introduce flexible tariffs, following a vote from the Colorado PUC.
November 13, 2025
The world generated 2,109.76TWh of electricity from solar in the first nine months of the year, a 31% increase over the same period in 2025.
November 13, 2025
US solar hardware manufacturer Create Energy and Swiss cable producer Stäubli have announced a partnership to produce a new solar connector product.
Premium
November 13, 2025
Analysis: The opening of Corning's Michigan wafer plant puts it in a strong position to supply US-made, FEOC-compliant products, while competition from outside remains scarce.

Upcoming Events

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
Solar Media Events
June 16, 2026
Napa, USA