Acquisition

Solar inverter acquisition agency

ABB, the Swiss technology leader, announced an agreement to acquire the power electronics business of Gamesa Electric, part of Siemens Gamesa, to strengthen its position in renewable power conversion technology. Financial terms were not disclosed. The business reported annual revenues of approximately €145 million for the fiscal year. . The buyout includes utility-scale solar PV inverters, industrial battery energy storage systems (BESS) and wind power converters. The acquisition includes specialized offerings such as Doubly-fed induction generator. .