Siemens Gamesa has reached an agreement to sell its power electronics business to ABB. The business – part of Gamesa Electric – designs and manufactures converters, inverters and control cabinets for wind, solar and storage industries. The generators business of Gamesa Electric is not included in the agreement and remains with Siemens Gamesa.
The parties have agreed not to disclose the purchase price. The agreement includes the transfer of around 400 employees, two manufacturing plants located in Spain, and additional assets in the USA, China, India and Australia.
As part of the transaction, the two companies have entered a long-term collaboration agreement under which ABB will provide power electronics to Siemens Gamesa turbines, both onshore and offshore.
With this agreement, Siemens Gamesa continues to progress its strategy of focusing on its core business, while partnering with a global technological leader in the sector.
Vinod Philip, executive VP for Wind Power in Siemens Energy: “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. Nevertheless, through this co-operation 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.”
Subject to regulatory approvals the transaction is expected to be closed in the second half of 2025.
