Balance of Systems

The warning from NASDAQ follows financial difficulties at the microinverter pioneer

The company announced an investment partnership with the Power Opportunities Group of Oaktree Capital Management that will help the company expand its international business on its current portfolio in addition to joining the energy-storage market.

A difficult market environment has led to a drop in sales and profits. The German inverter maker, however, was able to keep writing black numbers in the latest quarter.

Figures released by GTM Research show that U.S.-based NEXTracker remained the global market leader for the second year running, although Indian and Chinese suppliers gained major headway as the market continues to globalize.

It’s the first residential inverter to achieve UL 1741 SA (Supplement A) listing, which has been mandated by California and Hawaii for compliance in September 2017.

The inverter giant’s expansion plans are a response to what it says are favorable market conditions. In addition, the company is introducing new products to the U.S. market, including solutions for battery storage.

Sun Action announced that it has begun offering re-engineered models of its PST-2AL Dual Axis Solar Tracker that will sport reduced array fields of 20 to 25 modules, compared with 42 modules in the original design.

Grupo Clavijo and MFV Solar have reached a merger agreement to form NCLAVE, with the financial support of Q-Growth Fund, to become “the world leader in the design, manufacture and installation of structures and trackers for the solar photovoltaic market,” the companies say.

The EV, battery and now solar company fell into the red in Q4 concurrent with the acquisition of SolarCity, as it begins making batteries at its Gigafactory and prepares for Model 3 roll-out.

Extension of long-term loan facility with Tennenbaum Capital Partners used to pay-down Wells Fargo line of credit and support Enphase’s expansion efforts for its home energy solution.