Switzerland-based industrial conglomerate ABB has announced that 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, initially unveiled in December 2024, is expected to strengthen ABB’s position and help it expand in the growing market for high-performance renewable energy conversion technology.
“The acquired portfolio includes energy conversion products such as wind converters for dual-fed induction generators (DFIG), industrial battery energy storage systems (BESS) and utility-scale solar inverters,” ABB said in a statement. “The transaction brings with it approximately 400 employees, including key companies 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 €145 million ($168.4 million) for the fiscal year ending September 30, 2025.
ABB previously sold its power electronics business in 2020 to Italian manufacturer Fimer, which acquired ABB’s factories in Finland, India and Italy, as well as its 800 employees in 26 countries. Fimer, which shipped more than 7 GW of inverters that year, was acquired by the McLaren Applied Group in late November 2024, following restructuring efforts.
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