What’s going on here?
ABB is making waves in renewable energy by acquiring Gamesa Electric’s power electronics unit from Siemens Gamesa, alongside specialized engineers and operations in Spain.
What does this mean?
ABB’s strategic acquisition is set to boost its expertise in renewable power conversion technologies. By integrating Gamesa Electric’s team of over 100 specialized engineers and facilities in Madrid and Valencia, ABB aims to capture a larger share of the global renewables market, beyond Siemens Gamesa. Although Gamesa Electric’s current profitability lags behind ABB’s motion business, the potential for growth and market expansion is bright. With revenues of 170 million euros reported for the year ending September 30, the acquired unit will enhance ABB’s technological and cost efficiency. The deal, expected to close by late 2025, aligns with ABB’s strategy to expand its renewable energy offerings.
Why should I care?
For…
