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					</table><p>U.S.-based microinverter and battery storage supplier <a href="https://enphase.com/en-in" target="_blank" rel="noopener">Enphase Energy</a> reported a 35.22% year-over-year (YoY) rise in revenue to $356.1 million in the first quarter (Q1) of 2025 from $263.34 million.</p>
<p>The company attributed the revenue growth to rising sales of its microinverters and IQ batteries.</p>
<p>It reported a net profit of $29.73 million, up from a net loss of $16.09 million in the same period last year.</p>
<p>Enphase Energy’s earnings per share (EPS) came in at $0.22 compared to a loss of $0.12 compared to Q1 2024.</p>
<p>The company said it shipped 170.1 MWh of IQ batteries in Q1 2025 and 1.21 million microinverters from its contract manufacturers in the U.S. , which are eligible for the 45X production tax credits.</p>
<p>As of March 2025, the company had cumulatively shipped 81.5 million microinverters with 28.75 GW capacity and 1.86 GWh of energy storage systems.</p>
<p>In April 2025, it announced that more than 2,500 SunPower customers have transitioned to Enphase Energy monitoring since SunPower’s bankruptcy filing in August 2024.</p>
<p>The company has a global capacity of around 7.25 million microinverters per quarter, with five million of these inverters in the U.S. Its domestically produced microinverters help residential lease/power purchase agreement providers and commercial asset owners qualify for the 10% domestic content ITC tax benefit.</p>
<p>The company shipped 44 MWh of batteries from their Texas facility during the quarter.</p>
<p>In an earning’s call, the company said the recently announced 145% tariff on Chinese products and the 10% reciprocal tariffs on imports from other countries are expected to have minimal impact on its microinverters and accessories due to a diversified supply chain.</p>
<p>However, it expects a higher impact on its batteries as it sources nearly 95% of battery cell packs from China. The tariffs are expected to reduce Enphase Energy’s gross margin by approximately 2% in Q2 of the financial year 2025. The tariff’s effect is expected to be limited in Q2 due to the company’s pre-tariff inventory.</p>
<p>In Q3, the company anticipates a 6% to 8% impact on its total gross margin after accounting for pricing adjustments due to reciprocal tariffs.</p>
<p>The company has already identified tangible sourcing options outside China.</p>
<p>It expects its revenue for Q2 to range from $340 million to $380 million, which includes shipments of 160 MWh to 180 MWh of IQ Batteries.</p>
<p>In Q4 2024, Enphase Energy <a href="https://www.mercomindia.com/enphase-exceeds-q4-revenue-eps" target="_blank" rel="noopener">recorded</a> a total revenue of $382.71 million, reflecting a 26.5% YoY increase and exceeding analyst expectations by $5.21 million. The company’s revenue in the U.S. increased approximately 6% sequentially, driven by higher microinverter sales, while revenue in Europe declined by 25% due to softening regional demand.</p>
<p>In Q3 2024, the company <a href="https://mercomindia.com/enphase-q3-revenue-drops" target="_blank" rel="noopener">reported</a> a revenue of $380.9 million, a 31% drop from $551.08 million a year ago. It faced weakening demand in Europe, where revenue fell by 15%. Despite this, U.S. sales surged 43% quarter-over-quarter as inventory normalization boosted shipments.</p>


Enphase Lowers Q2 Revenue Guidance, Fears Adverse Impact from China Tariffs


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					</table><p><a href="https://www.mercomindia.com/high-court-clears-hurdles-in-privatization-of-chandigarh-discom" target="_blank" rel="noopener">The Punjab and Haryana High Court has cleared the decks for the privatization of electricity services in the Union Territory of Chandigarh, maintaining that it is not</a> within the judiciary’s domain to decide whether a public policy is wise or a better one can be developed. While disposing of petitions by the UT Powermen Union and Federation of Sectors Welfare Association, the High Court rejected the contention that the union territory’s policy to privatize power distribution violates the Electricity Act, 2003. The High Court drew upon the Supreme Court’s pronouncements in the Bharat Aluminium Company privatization case.</p>
<p><a href="https://www.mercomindia.com/gerc-approves-tariffs-for-259-mw-solar-projects-under-kusum" target="_blank" rel="noopener">The Gujarat Electricity Regulatory Commission (GERC) has approved tariffs for 101 solar power projects of Paschim Gujarat Vij Company (PGVCL) with a total capacity of 259</a> MW under Component C of the Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan program. The tariffs adopted range from ₹2.35 (~$0.028)/kWh to ₹3(~$0.036)/kWh.</p>
<p><a href="https://www.mercomindia.com/odisha-epc-tender-50-mw-solar" target="_blank" rel="noopener">Odisha Power Generation Corporation has invited bids for the engineering, procurement, and construction of a 50 MW solar power project on earth-capped</a> ash pond-B at IB Thermal Power Station in Banharpalli, Odisha. The contractor must also oversee the project’s operation and maintenance for five years. The last day to submit the bids is December 30, 2024. Bids will be opened on the same day.</p>
<p><a href="https://www.mercomindia.com/indigrid-bii-and-norfund-to-launch-300-million-platform-for-bess-projects" target="_blank" rel="noopener">IndiGrid, British International Investment (BII), and the Norwegian Climate Investment Fund managed by Norfund have launched EnerGrid, a $300 million platform focusing on</a> developing greenfield transmission and standalone Battery Energy Storage System (BESS) projects in India. Earlier this year, IndiGrid announced the company’s first phase of this partnership, under which BII and Norfund invested in three of IndiGrid’s existing greenfield transmission projects. IndiGrid, Norfund, and BII plan to invest $100 million each in the platform. This capital will enable EnerGrid to target projects worth approximately $1.2 billion over the next few years. After starting commercial operations, IndiGrid will fully acquire these projects at a pre-agreed enterprise value.</p>
<p><a href="https://www.mercomindia.com/enphase-to-pare-jobs-by-in-india-us-and-china" target="_blank" rel="noopener">Microinverter and battery storage supplier Enphase Energy has unveiled a restructuring plan to align its workforce and cost structure with current market conditions and</a> strategic priorities. The plan is in response to ongoing economic challenges in the solar industry. Enphase will reduce its global workforce by approximately 17%, affecting around 500 employees and contractors. The company will focus its contract manufacturing in four existing locations: two in the U.S., one in India, and one in China. Operations in Guadalajara, Mexico, will cease. Despite the changes, Enphase’s global capacity for microinverters will remain steady at approximately 7.25 million units per quarter, with about 5 million units of capacity in the U.S., it said in a regulatory filing.</p>
<p><a href="https://www.mercomindia.com/bloom-energy-misses-q3-revenue" target="_blank" rel="noopener">Fuel cell and electrolyzer manufacturer Bloom Energy reported revenue of $330.4 million in the third quarter (Q3) of 2024, down 17.46% year-over-year from $400.3</a> million in Q3 2023, missing analyst expectations by $52.79 million. The company posted an earnings per share (EPS) of $0.06, missing estimates by $0.09. The decrease is attributed to the inherent variability in Bloom’s project-based business model. The company’s gross profit rose significantly to $78.7 million in Q3 2024, up from a gross loss of $5.2 million in the same quarter last year. This resulted in a substantial YoY increase in gross margin, which reached 23.8% this quarter, a 25.1% improvement from a negative 1.3% gross margin in Q3 2023.</p>


Daily News Wrap-Up: High Court Upholds Privatization of Chandigarh DISCOM

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