The Swiss group acquired Gamesa Electric’s power electronics business in Spain from Siemens Gamesa.
the financial terms of the deal were not revealed. Switzerland-based industrial conglomerate ABB announced it has completed the acquisition of Gamesa Electric’s power electronics business in Spain from Siemens Gamesa. The financial terms of the transaction were not disclosed.
the deal, which was initially revealed in December 2024, is expected to strengthen ABB’s position and help it expand in the growing market for high-power renewable energy conversion technology. ‘The acquired portfolio includes power conversion products such as wind converters for doubly-fed induction generator (DFIG), industrial battery energy storage systems (BESS), and utility-scale solar inverters,’ ABB said in a statement. ‘The transaction brings in around 400 employees, including key resources in Spain, India, China, the United States and Australia, and two converter factories in Madrid and Valencia.
aBB has also entered into a supply and services agreement with Siemens Gamesa.’ ABB also revealed that Gamesa Electric generated revenues of approximately pound 145 million ($168.4 million) for the fiscal year ended September 30, 2025.