Enphase Energy (NASDAQ: ENPH) has entered into a Tax Credit Transfer Agreement to sell up to $150,000,000 in advanced manufacturing production tax credits to an unidentified financial institution, according to a company statement.

The agreement, dated June 15, 2026, covers tax credits generated under Section 45X of the Internal Revenue Code, tied to the production of eligible components in the United States and their sale to third parties during calendar year 2026.

The purchase price for the tax credits will not exceed $139,500,000, to be paid in four installments across calendar years 2026 and 2027. Each payment is subject to conditions including the absence of default and the accuracy of the company's representations and warranties.

The agreement includes customary covenants, indemnification, and termination provisions.