Latest News | Siemens Gamesa Sells Power Electronics Biz to ABB for Undisclosed Amount
Get latest articles and stories on Latest News at LatestLY. Siemens Gamesa on Wednesday announced selling its power electronics business to ABB which includes assets in India for an undisclosed amount.
New Delhi, Dec 18 (PTI) Siemens Gamesa on Wednesday announced selling its power electronics business to ABB which includes assets in India for an undisclosed amount.
The business designs and manufactures converters, inverters and control cabinets for wind, solar and storage industries, Siemens Energy said in a statement.
The generators business of Gamesa Electric is not included in the agreement and remains with Siemens Gamesa, it said.
"Siemens Gamesa has reached an agreement to sell its power electronics business to ABB. The agreement includes the transfer of around 400 employees, two manufacturing plants located in Spain, as well as additional assets in the US, China, India and Australia," the company said.
As part of the transaction, both companies have entered a long-term collaboration agreement through which ABB will provide power electronics to Siemens Gamesa turbines, both onshore and offshore.
The transaction is expected to be closed in the second half of 2025 and is subject to regulatory approvals of the respective authorities.
"Our primary goal for Siemens Gamesa is to achieve profitability, which requires a dedicated focus on our core business. The make-or-buy decision is a constant consideration for us and in this case Gamesa Electric will be better positioned to thrive under ABB's umbrella," Vinod Philip, Executive Vice President for Wind Power in Siemens Energy, said.
"Nevertheless, through this cooperation agreement, we are securing essential capacities. I am pleased that we have found a solution for our nearly 400 employees, providing them with greater confidence and security for the future," Philip added.
Siemens Energy is one of the world's leading energy technology companies. Siemens Gamesa is its wind power subsidiary.
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