Enphase Energy has hired Sanjeev Kumar as its new CFO. Kumar, who will be the PV microinverter company’s first chief financial officer, brings more than 15 years of experience in global renewable and traditional energy markets.
Before joining Enphase, Kumar was VP and CFO of thin-film PV manufacturer Energy Conversion Devices, where he played a key role in commercializing new technologies and reaching profitability until his departure in August 2008. He also served on the board of Solar Integrated Technologies, where he was instrumental in the activities that led to the sale of the company to ECD.
Kumar also has significant experience in capital markets, having successfully raised more than $5 billion in debt and equity offerings in both private and public markets. He also spent nine years with Occidental Petroleum.
Enphase CEO Paul Nahi believes that 2010 will be “another excellent year for the company. We see the residential solar market continuing to gain momentum and an uptick in larger commercial activity. Sanjeev’s depth of experience in the broader energy sector and proven track record of successful financial leadership will help guide Enphase through the next phase of global expansion.”
Kumar said he is “excited to be coming on board at Enphase during such a pivotal time for the company. With strong technology innovations and a driven leadership team Enphase is already a solar market leader. Looking ahead, Enphase is well positioned to continue its growth globally, and I look forward to using my expertise to accomplish this goal.”