ABB has announced the signing of an agreement to acquire the power electronics business of Gamesa Electric, a subsidiary of Siemens Gamesa, based in Spain. This acquisition strengthens ABB’s position in the expanding market for high-powered renewable power conversion technology. The transaction is expected to significantly enhance ABB’s product and service offerings for renewables OEMs and end users, supporting the growth strategy of ABB’s Motion business area.
The acquisition, subject to regulatory approvals and customary closing conditions, is expected to close in the second half of 2025. Financial terms have not been disclosed.
ABB will acquire Gamesa Electric’s portfolio, which includes electrical products for power conversion such as Doubly-fed induction generator (DFIG) wind converters, industrial battery energy storage systems (BESS), and utility-scale solar power inverters. This acquisition adds over 100 specialized engineers and two manufacturing plants in Madrid and Valencia, with a workforce of approximately 400 employees, including key teams in India, China, the United States, and Australia. For the fiscal year ending September 30, 2024, the power electronics business of Gamesa Electric reported revenues of approximately €170 million.
According to the International Energy Agency, global renewable capacity additions are expected to rise annually, reaching nearly 940 GW by 2030, up from 666 GW in 2024. Solar PV and wind energy are anticipated to drive 95% of this growth.
Chris Poynter, President of ABB’s System Drives division, stated: “This targeted acquisition is in line with our commitment to grow our portfolio for high-power renewable applications and to support productivity in a low-carbon world. It will deepen our engineering expertise for power conversion and grid connection, providing significant opportunities to service a growing installed base.“
Additionally, ABB plans to leverage this acquisition to increase its serviceable power conversion base by approximately 40 GW, expanding access to new service, modernization, and repower opportunities. The domain expertise of the Gamesa Electric team will also help to broaden ABB’s digital offerings. Furthermore, ABB intends to enter into a supply and services agreement with Siemens Gamesa.
