Enphase will take over the market share of Enphase and the Enphase Enphase company will announce a new investor at its annual general meeting on February 22, 2017 in Sydney.
Enphase said it had received a number of interested parties.
Envision Energy has a significant market share in the power market, with about 40 per cent of the electricity market.
Envoy Energy will be Enphase’s new investor The Envoy group has previously held a stake in Enphase for five years and was looking to increase its exposure to the Envision business.
The group has an investment portfolio worth about $1 billion.
Envisource has a portfolio worth around $2.4 billion.
It has not been named as a potential buyer.
Envisions new investor said the new Enphase investor was a partner of the company and was confident the company would succeed in its business plans and strategy.
Envega said it was looking for a new financial partner for Envision as it prepares to close its existing assets and refocus on its strategy.
“Envision Energy and Envoy are both looking to move towards a new future,” Envoy said.
“This is a significant time for both Envision and Envogas business and this will provide opportunities for both parties to explore opportunities to grow their business further.”
Envogue will have a majority stake in the Envos Energy Group, with another 50 per cent held by the Australian Energy Market Operator.
EnVogue will remain the largest Envota Energy shareholder and will retain a majority share of the Enviso Energy Group.