ABB concludes purchase of Gamesa Electric’s power electronics unit

Group 1 - ABB has finalized the acquisition of Gamesa Electric's power electronics division from Siemens Gamesa, with the deal initially announced in December last year. Financial details remain undisclosed [1] - The acquired business generated annual revenues of approximately €145 million ($168.4 million) for the financial year ending September 30, 2025 [1] - The acquisition includes products such as wind converters, battery energy storage systems, and inverters for solar projects, along with nearly 400 employees joining ABB [2] Group 2 - The transaction includes two converter manufacturing facilities located in Valencia and Madrid, Spain [2] - ABB's serviceable installed base of wind converters is expected to increase by about 46 GW following this acquisition [3] - The renewable energy sector is projected to see a 60% increase in electricity generation from renewable sources by 2030, with solar photovoltaic expected to contribute over half of this growth [4][5]