ABB announced it has signed an agreement to acquire the power electronics business of Gamesa Electric in Spain from Siemens Gamesa to strengthen ABB’s position in the growing market for high-powered renewable power conversion technology. The acquisition will significantly expand ABB’s existing power conversion product and service offering to renewables OEMs and end users, with new portfolio and engineering assets that will support the profitable growth strategy of ABB’s Motion business area. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in the second half of 2025. Financial terms were not disclosed.
The offering ABB is acquiring is focused on electrical products for power conversion, and includes Doubly-fed induction generator (DFIG) wind converters, industrial battery energy storage system (BESS) and utility-scale solar power inverters. The transaction will complement ABB’s expertise with over 100 highly specialized engineers and two Spanish converter factories in Madrid and Valencia, for a total workforce of around 400 employees, including key resources in India, China, United States and Australia.
“This targeted acquisition is in line with our commitments to grow our portfolio for high power renewable applications and support productivity in a low-carbon world. It will expand our engineering depth for power conversion and grid connection, and will add significant opportunity to service a large installed base,” said Chris Poynter, president of ABB’s System Drives division. “With the acquisition of this business we will be much better positioned to capitalize on the expansion of the power conversion market for renewables while building on our relationship with Siemens Gamesa as a key customer.”
News item from ABB
