ABB said it has finalised its acquisition of Gamesa Electric’s power electronics business in Spain from Siemens Gamesa, marking a significant expansion of its portfolio in wind, solar and battery storage technologies. Financial terms were not disclosed.
The acquired business generated annual revenues of about €145 million in the fiscal year to 30 September 2025, ABB said. Its portfolio includes wind converters for doubly fed induction generators, industrial battery energy storage systems and utility-scale solar inverters.
The transaction brings approximately 400 employees into ABB across Spain, India, China, the United States and Australia, and includes two converter manufacturing sites in Madrid and Valencia. ABB has also entered into a supply and services agreement with Siemens Gamesa as part of the deal.
ABB said the acquisition increases the serviceable installed base of its wind converters by around 46 gigawatts and supports the growth strategy of its Motion business area. Daniel Gerber, business line manager for renewable power in ABB’s Motion High Power division, said the combined capabilities strengthen the company’s position in the expanding renewables market. “By combining ABB’s global reach and Gamesa Electric’s portfolio and expertise, the company is well positioned to capture growing demand and accelerate renewable energy adoption worldwide,” he said.
According to ABB, data from the International Energy Agency indicates that electricity generation from renewables is expected to rise by about 60% between 2024 and 2030.
