ABB announced that it has completed the acquisition of Gamesa Electric’s power electronics business in Spain, owned by Siemens Gamesa, significantly strengthening its presence in the global renewable energy conversion market. renewable energy.
Acquisition details
Although financial terms were not disclosed, the acquisition generated revenues of approximately EUR 145 million in the fiscal year ended September 30, 2025. The assets received by ABB were:
- Wind energy converters, battery energy storage systems (BESS), industrial and industrial-scale industrial scale and solar inverters for large-scale plants.
- 400 employees, including more than 100 highly specialized engineers, and two converter plants located in Madrid and Valencia, Spain.
- A supply and service agreement with Siemens Gamesa
It is important to note that the electric motors and generators business of Gamesa Electric is not included in this transaction and remains under the ownership of Siemens Gamesa.
ABB prepares for a market that triples in size
According to projections by the International Energy AgencyAccording to projections by the International Energy Agency, electricity generation from renewables will increase by 60% between 2024 and 2030, from 9,900 TWh to 16,200 TWh, so the incorporation of Gamesa Electric reinforces the company’s growth strategy.
Gamesa Electric’s accumulated experience of more than 45 years in power electronics adds significant technical value, especially in solar and renewable applications, in addition to strengthening the company’s customer network in the sector.
Source: ABB