MUMBAI, India, Dec. 03, 2017 (GLOBE NEWSWIRE) -- Enphase Energy, Inc. (NASDAQ:ENPH), a global energy technology company and the world's leading supplier of solar microinverters, today announced the opening of its first R&D center in Bangalore, India to establish a best-in-class technology development center.
India is powering the growth of solar with its ambitious targets for clean energy and is expected to be ranked as the world's third largest solar market in 2017. Enphase plans to support this rapid growth with the opening of its Bangalore R&D center, where it will also offer employment opportunities for engineering, operations, marketing, sales, and customer support personnel to meet the needs of its customers worldwide.
"I am pleased to announce our first R&D center in India, which is an important part of our overall global strategy," said Badri Kothandaraman, president and CEO of Enphase Energy. "The abundant engineering and technology talent in India not only fits well with Enphase's core of
product innovation, but also helps us in operational excellence to achieve our 30-20-10 financial operating model. We are bullish about the region's growth potential due to its ever-increasing demand for clean energy, and look forward to working with our customers, partners and module manufacturers to deliver innovative solutions."
"This strategic expansion in India is very exciting for Enphase," said Sunil Thamaran, vice president and managing director of Enphase India. "We are pleased to be developing a highly skilled team that will span Enphase's end-to-end operations, supporting both the growing local and worldwide demand for our products, services and customer support."
India has a mature R&D ecosystem that includes many renewable energy companies with more
than 20 years of business in the region. Enphase Microinverters, as promoted through the Company's Made for India campaign, are designed and proven to operate for decades in harsh climates such as India's. Enphase offers the most advanced inverter technology on the market with higher production, greater reliability and intelligence. With Enphase Microinverters, installers can reduce their installation and maintenance costs and bring greater value to their customers.
To learn more about Enphase Energy's technology and the ways it is suited for the Iocal solar market, visit us at the Redington India Ltd.'s Booth #1010, and Waaree Energies Ltd.'s Booth #1414 at Intersolar India, from Dec. 5 to Dec. 7, 2017 at the Bombay Convention & Exhibition Centre in Mumbai, India.
About Enphase Energy, Inc.
Enphase Energy, a global energy technology company, delivers smart, easy-to-use solutions that connect solar generation, storage and management on one intelligent platform. The Company revolutionized solar with its microinverter technology and produces the world's only truly integrated solar plus storage solution. Enphase has shipped approximately 16 million microinverters, and more than 700,000 Enphase systems have been deployed in more than 100 countries. For more information, visit www.enphase.com.
Enphase Energy®, the Enphase logo and other trademarks or service
names are the trademarks of Enphase Energy, Inc.
This press release may contain forward-looking statements, including statements related to Enphase Energy's financial performance, release dates for new products, market demands for its products, advantages of its technology, growth potential in India, expected performance of its products in India, and market trends. These forward-looking statements are based on the Company's current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties and other risks detailed in the "Risk
Factors" and elsewhere in Enphase Energy's latest Securities and Exchange Commission filings and reports. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.
Enphase Energy, Inc.
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Source: Enphase Energy, Inc.
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