Bulletin
Investor Alert

New York Markets Close in:

press release

Feb. 6, 2020, 3:00 a.m. EST

SolarEdge to Supply Enfindus With Inverters for 1GW of European Solar Projects

SolarEdge Technologies , Inc. (“SolarEdge”) /zigman2/quotes/207754270/composite SEDG -1.43% , a global leader in smart energy, announced today that it entered into a contract to supply smart energy products and solutions, including inverters and power optimizers for 1 GW of solar projects with international solar investor, Enfindus. The four-year, pan-European agreement is intended for commercial and industrial (C&I) rooftop PV systems. Enfindus plans to finance, build, and operate the PV systems and offer corporate PPAs to rooftop owners.

“Being selected by Enfindus for one gigawatt of PV systems throughout Europe is testament to the growing strength of DC optimization and its benefits for larger PV installations," stated Alfred Karlstetter, General Manager of SolarEdge Europe. "Growing its footprint in the C&I sector, SolarEdge is committed to continuing to provide innovative and scalable DC optimized inverter solutions to improve the bottom line of commercial and small-scale utility PV systems.”

“Dedicated to investing in high-quality and profitable C&I PV systems, Enfindus identified SolarEdge’s DC optimized inverters as the ideal solution that can provide improved lifetime RoI for larger commercial PV systems," stated Gino van Neer, CEO, Enfindus. "We selected SolarEdge for its bankability, which is due in-part to its premium technology that is favored by insurance companies offering enhanced safety features and high-resolution monitoring for improved O&M. The team at Enfindus also highly appreciates SolarEdge’s dedicated approach to building customer relationships, which gives us the confidence to commit to a long-term collaboration.”

Through these projects, SolarEdge and Enfindus aim to help businesses decrease their energy costs to improve their bottom lines, while increasing the amount of solar energy in the European energy mix in order to decarbonize and decentralize energy production.

About SolarEdge:

SolarEdge is a global leader in smart energy technology. By leveraging world-class engineering capabilities and with a relentless focus on innovation, SolarEdge creates smart energy solutions that power our lives and drive future progress. SolarEdge developed an intelligent inverter solution that changed the way power is harvested and managed in photovoltaic (PV) systems. The SolarEdge DC optimized inverter seeks to maximize power generation while lowering the cost of energy produced by the PV system. Continuing to advance smart energy, SolarEdge addresses a broad range of energy market segments through its PV, storage, EV charging, batteries, UPS, electric vehicle powertrains, and grid services solutions. SolarEdge is online at solaredge.com

About Enfindus:

Enfindus is an international player in the field of solar energy. Its mission is to finance, build, and operate a portfolio of one gigawatt of solar rooftop projects in Europe by 2025. Enfindus manages the complete process of the preparation, installation and operation of solar installations, with no capital investment required by the rooftop owner. Enfindus is managed by highly-experienced solar professionals operating in Benelux, Germany, Italy, Spain, and the UK and is actively looking to initiate business in other European countries.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200206005143/en/

SOURCE: SolarEdge Technologies, Inc.

Press
SolarEdge Technologies
Jessica Fishman
Public and Media Relations Director
Jessica.Fishman@solaredge.com
+972-523958445 Enfindus
Guido Mivis
Chief Sales Officer
gmivis@enfindus.com
+34 655169543

Copyright Business Wire 2020

/zigman2/quotes/207754270/composite
US : U.S.: Nasdaq
$ 80.71
-1.17 -1.43%
Volume: 312,771
April 1, 2020 11:57a
P/E Ratio
27.80
Dividend Yield
N/A
Market Cap
$4.03 billion
Rev. per Employee
$539,572
loading...

Comtex
Link to MarketWatch's Slice.