Advanced Energy winding down solar inverter ops

• Advanced Energy (NASDAQ:AEIS) has "made a strategic decision to focus solely on its Precision Power business and wind down its Solar Inverter business."
• The company expects to record $260M-$290M of charges, with $195M-$225M going towards write-downs. Cash costs are expected to total $30M-$45M, with $20M-$30M occurring in 2015.
• The inverter business has faced stiff competition from microinverter leader Enphase and inverter/power optimizer vendor SolarEdge, among others.