Enphase to boost manufacturing capacity with Flex deal in Romania
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Enphase Energy (ENPH +4.1%) rallies to a four-month high after saying on Monday it will expand its global manufacturing capacity starting in Q1 2023 by partnering with manufacturer Flex at the latter's factory in Timisoara, Romania, to make microinverters for the European market.
Enphase says the new manufacturing site in Romania will enable it to increase global capacity and improve delivery times to its customers in Europe.
Initial production and planned capacity of the new factory have not been disclosed, and the company has not said how much it will invest in the new plant.
Enphase shares have surged on optimism over the European Union's move to accelerate solar deployment given the Russia-Ukraine crisis, but the optimism may have been priced in, JR Research writes in an analysis published recently on Seeking Alpha.