(Source: Shutterstock.com)
Siemens Gamesa is selling its power electronics business to ABB for an undisclosed purchase price, Siemens announced Dec. 18.
The business, part of Gamesa Electric, designs and manufactures converters, inverters and control cabinets for the wind, solar and storage industries. The deal does not include Gamesa Electric’s generators business which will remain with Siemens Gamesa.
Assets included in the deal are in the U.S., China, India and Australia, plus two manufacturing plants in Spain. Around 400 employees will be transferred as well.
The transaction includes a long-term collaboration agreement in which ABB will supply power electronics to Siemens' offshore and onshore turbines.
“Our primary goal for Siemens Gamesa is to achieve profitability, which requires a dedicated focus on our core business,” said Vinod Philip, Siemens Energy’s executive vice president for wind power. “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.
The transaction is expected to close in the second half of 2025 and remains subject to regulatory approvals.
Recommended Reading
Kissler: Gas Producers Should Still Hedge on Price
2025-03-27 - Recent price jumps and rising demand don’t negate the need to protect against future drops.
Plains All American President Pefanis to Retire
2025-03-27 - Current CEO Willie Chiang will take over as the next president of Plains All American Pipeline following co-founder Harry Pefanis’ retirement.
Japan’s JAPEX Backs Former TreadStone Execs’ New E&P Peoria
2025-03-26 - Japanese firm JAPEX U.S. Corp. made an equity investment in Peoria Resources, led by former executives from TreadStone Energy Partners.
CPP Wants to Invest Another $12.5B into Oil, Gas
2025-03-26 - The Canada Pension Plan’s CPP Investments is looking for more oil and gas stories—in addition to renewable and other energies.
Shell Raises Shareholder Distributions and LNG Sales Target, Trims Spending
2025-03-25 - Shell trimmed its annual investment budget to a $20 billion to $22 billion range through 2028 after spending $21.1 billion last year.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.