ABB buys Siemens Gamesa’s power electronics business
6 January 2025 
ABB is buying Siemens Gamesa’s power electronics business in Spain to strengthen its position in the booming market for high-power renewable energy conversion technologies. The acquisition will expand ABB’s power conversion product and service offering to renewables OEMs and end-users, with new portfolio and engineering assets expected to drive the profitable growth of ABB’s Motion business. No financial details have been released about the deal, which is expected to close in the second half of 2025.
The Gamesa Electric power electronics business achieved revenues of around €170m in the year to September 2024. It has about 400 employees, including around 100 specialised engineers, as well as factories in Madrid and Valencia.
Gamesa’s power conversion portfolio includes doubly-fed induction generator wind converters, industrial battery energy storage systems and utility-scale solar power inverters.
“This targeted acquisition is in line with our commitments to grow our portfolio for high-power renewable applications and support productivity in a low-carbon world,” says Chris Poynter, president of ABB’s System Drives division. “It will expand our engineering depth for power conversion and grid connection, and will add significant opportunity to service a large installed base.
“With the acquisition of this business,” he adds, “we will be much better positioned to capitalise on the expansion of the power conversion market for renewables, while building on our relationship with Siemens Gamesa as a key customer.”
The acquisition will increase ABB’s serviceable power conversion installed base by around 40GW, allowing it to access new service, modernisation and repowering opportunities around the world. Gamesa Electric’s expertise will also help ABB to broaden its digital offering. ABB intends to enter into a supply and services agreement with Siemens Gamesa.
The International Energy Agency estimates that annual additions to the world’s global renewable energy capacity will expand from 666GW in 2024 to almost 940 GW by 2030. Solar photovoltaic and wind energy together are expected to account for 95% of all renewable capacity growth by the end of the decade, when renewable energy is expected to account for almost half of all global electricity generation, with wind and solar PV doubling their share to 30%.
