Enphase Energy Inc (NASDAQ:ENPH), a global energy technology company
announced it has entered into strategic partnerships with four key distribution partners which will further strengthen Enphase’s operations and influence in Benelux.
The companies will distribute the world-leading Enphase microinverter system to key installers across Belgium, The Netherlands, and Luxembourg. The new distribution partners include:
“We’re proud to announce our new partnerships in a period of consolidation and greater awareness within the solar industry,” says Peter van Berkel, general manager, EMEA, Enphase Energy. “At Enphase, we place great importance on our distribution strategy, partnering with organizations that have the commercial depth and breadth needed to support an increasingly sophisticated installer network. We expect the new partners to be a strong enhancement for the company.”
Enphase’s sales director in the region, Simon Baggaley, said: “This is great news for customers of Alma Solar, Gutami Solar, Mijn Energiefabriek and Natec who can now access the Enphase system, with its unparalleled safety, simplicity and reliability backed by the industry’s most rigorous testing — one million power-on hours under stress conditions per product generation. The Enphase system also offers a streamlined approach to installations, and operations and maintenance, which can help the installer to grow their business.”
These partnerships fall in line with Enphase’s 40 percent year-over-year growth in its solar microinverter shipments in Benelux in the first half of 2016, compared to the same period in 2015.
Since entering the Benelux market in 2012, Enphase has seen the demand for its solar photovoltaic systems strengthen significantly. Households, along with small-sized enterprise and the social housing segment are the primary adopters of Enphase technology, with the new build segment taking an increasing interest due to Enphase’s record for superior energy yield in areas of low sunlight or unfavorable weather. Enphase also offers ease of installation and the versatility to fit on any size rooftop. (Original Source)
Shares of Enphase Energy are currently trading at $1.81, up $0.03 or 1.68%. ENPH has a 1-year high of $7.10 and a 1-year low of $1.63. The stock’s 50-day moving average is $1.99 and its 200-day moving average is $2.24.
On the ratings front, Enphase Energy has been the subject of a number of recent research reports. In a report issued on July 22, J.P. Morgan analyst Paul Coster reiterated a Hold rating on ENPH. Separately, on July 7, Roth Capital’s Gerry Sweeney reiterated a Hold rating on the stock .
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Paul Coster and Gerry Sweeney have a total average return of -6.4% and -0.7% respectively. Coster has a success rate of 46.1% and is ranked #3866 out of 4083 analysts, while Sweeney has a success rate of 43.5% and is ranked #2876.
Enphase Energy, Inc. designs, develops, and sells microinverter systems for the solar photovoltaic industry. Its products and services include Enphase microinverters, Enphase Envoy, Enphase Enlighten Manager, and accessories such as Enphase Engage cable, connector clip, frame mount, coupler, mobile connect, and consumption monitor.