ABB to acquire power electronics business of Gamesa Electric
ABB has signed an agreement to acquire the power electronics business of Gamesa Electric in Spain from Siemens Gamesa.
The acquisition will expand ABB’s existing power conversion product and service offering to renewables OEMs and end users with new portfolio and engineering assets. 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 systems (BESS) and utility-scale solar power inverters. The transaction will complement ABB’s expertise with over 100 specialised engineers and two Spanish converter factories in Madrid and Valencia, for a total workforce of around 400 employees, including resources in India, China, United States and Australia.
The power electronics business of Gamesa Electric reported revenues of around EUR 170 million for the fiscal year that ended on September 30th, 2024.
