Enphase Energy and Waaree Energies Establish AC Module Integration Partnership

India
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Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of solar microinverters, announced that it has partnered with Waaree Energies Limited (Waaree), India’s largest Tier 1 solar panel manufacturer.

As India’s largest vertically integrated solar energy solutions company, Waaree will join forces with Enphase to produce an AC solar module (ACM) for the Indian market. Waaree will offer its high quality and high reliability monocrystalline solar PV modules with Enphase Microinverter Systems attached to the back of Waaree’s modules.

This is the first ACM partnership that Enphase Energy has established in India. The Waaree Enphase ACM will be assembled and shipped directly from Waaree’s PV module factory in Surat in a 500MW state of the art facility, which is one of India’s largest PV module factories. The Waree Enphase ACM will be available from September 2017 to customers in India.

“Enphase Energy is the first global microinverter technology company to partner with Waaree to integrate our technology onto their solar modules, said Nathan Dunnm managing director of Enphase Asia-Pacific. “This is a truly exciting opportunity as it will allow us to extend our market presence in India with a market leader in solar modules. Enphase and Waaree shares the same philosophy of delivering solar solutions built on quality and innovative technology. Together, we will work towards delivering more affordable solar power to commercial and residential customers in India.”

Hitesh Doshi, chairman and managing director, Waaree Energies Limited said, "The attachment of Waaree solar PV modules with the Enphase microinverter system is a significant win for installers and customers. Not only will they enjoy the quality and performance of industry leading products, our AC solar modules will be easier and faster to install. We are delighted to be working with Enphase Energy with its strong heritage in solar energy technology and continued development of quality microinverters that suits India’s unique climate and weather conditions.”

This is the third partnership that Enphase Energy has established in India in the past month as the company continues to bolster its presence there.

Enphase microinverters offer the most advanced inverter technology on the market with higher production, greater reliability and intelligence. Installers can get better performance and smarter insights with Enphase microinverters as they are simple to install, designed for flexibility and lead the industry with their reliability. With Enphase microinverters, installers can reduce their installation and maintenance costs and bring greater value to their customers.

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 revolutionised solar with its microinverter technology and produces the world’s only truly integrated solar plus storage solution. Enphase has shipped approximately 15 million microinverters, and more than 661,000 Enphase systems have been deployed in more than 100 countries. Enphase Energy®, the Enphase logo and other trademarks or service names are the trademarks of Enphase Energy, Inc.

About Waaree Energies

WAAREE Energies Ltd is the flagship company of Waaree Group, founded in 1989 with headquarters in Mumbai, India. It has India’s largest solar PV module manufacturing capacity of 500 MWs at its plant in near Surat, Gujrat. Waaree Energies is amongst the top players in India in providing EPC services, project development, rooftop solutions, and solar water pumps and it is also as an Independent Power Producer. Waaree has its presence in over 20 locations nationally and 68 countries internationally.

Forward-Looking Statements

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, and advantages of its technology 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.

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