SOURCE: Enphase Energy

Enphase Energy

October 11, 2010 08:00 ET

Morgan Stanley and Main Street Power Back Enphase Microinverters for Commercial Solar Projects

4.5MW Deal Accelerates Enphase's Growth in the Commercial Solar Market

PETALUMA, CA--(Marketwire - October 11, 2010) - Enphase Energy Inc., the leader in solar microinverter systems, today announced that its microinverter technology will power 4.5MW of solar projects developed and operated by Main Street Power, a national solar developer, and financed by Morgan Stanley, a leading global financial institution.

The projects will be installed across approximately 36 sites, with system sizes ranging from 30kW to more than 300kW. The clean energy generated by the projects will be sold by Main Street to the San Diego Unified School District through a 20-year power purchase agreement (PPA). Morgan Stanley will provide the financing for the projects, enabling the school district to immediately begin saving on energy costs.

"We included Enphase in our proposal because it offered substantial cost savings in system design, operation and maintenance, while also increasing energy harvest and system reliability," said Eric Hinckley, senior vice president of Main Street Power. "In addition, the Enphase Microinverters eliminated the need for a pad-mounted central inverter and high-voltage DC wiring, which improves safety and security for the schools."

Installing a pad-mounted central inverter in a high-traffic area can expose a solar system to tampering, vandalism and damage. Enphase Microinverters are installed directly under solar modules on the rooftop, so they do not require vulnerable ground-based equipment.

Outside their security benefits, Enphase Microinverters simplify solar system design by eliminating DC components, string design and inverter sizing for the solar system. In addition, Enphase Microinverters improve system performance by maximizing the power production of individual solar modules and increasing overall system availability to greater than 99.8 percent.

"We have been working with Enphase for more than a year, gaining insight into the company's technology, operations and capital structure," said Martin Mobley, vice president of Morgan Stanley & Co. Incorporated. "We are impressed with the performance and reliability that Enphase provides commercial solar systems."

"Enphase is quickly proving its value in medium- and large-commercial solar projects," said Jeff Loebbaka, vice president of worldwide sales, Enphase Energy. "Our collaboration with partners like Main Street and Morgan Stanley is helping us to improve our offering and to make microinverters a more attractive product at increasingly large scales."

About Enphase
Enphase Energy provides solar energy management systems for residential and commercial markets. The company offers a system that includes high efficiency microinverters, communications and Web-based monitoring and analysis. The systems increase energy harvest, improve system reliability and simplify design, installation and management. Founded in 2006 and based in Northern California, the company is led by veterans from the solar and high-tech industries and backed by industry leaders. For more information about Enphase, please visit

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