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ABB Completes Acquisition of Gamesa Electric’s Power Electronics Business

ABB has finalized its acquisition of Gamesa Electric’s power electronics division from Siemens Gamesa, strengthening its position in the rapidly expanding renewable energy sector. The acquisition comes at a time when global renewable electricity generation is projected to reach 43% by 2030, creating strong demand for modernized infrastructure and advanced service solutions across the solar and wind industries.

Originally announced on December 18, 2024, the deal includes Gamesa Electric’s portfolio of power conversion technologies, such as wind converters for Doubly-Fed Induction Generator (DFIG) systems, industrial battery energy storage system (BESS) converters, and utility-scale solar inverters. The financial terms were not made public. For the fiscal year ending September 30, 2025, the business recorded annual revenues of approximately €145 million.

Through the transaction, ABB adds about 400 employees across Spain, India, China, the United States, and Australia, along with two converter manufacturing plants located in Madrid and Valencia. ABB has also signed a supply and services agreement with Siemens Gamesa as part of the arrangement.

The acquisition increases ABB’s serviceable installed base of wind converters by nearly 46 GW and aligns with the growth strategy of its Motion business area.

“By integrating ABB’s global footprint with Gamesa Electric’s capabilities and product range, we are well positioned to meet rising global demand and drive the acceleration of renewable energy adoption,” said Daniel Gerber, Business Line Manager for Renewable Power in ABB’s Motion High Power division.

According to the International Energy Agency, renewable electricity generation is expected to rise from 9,900 TWh in 2024 to 16,200 TWh in 2030—an increase of 60%. Renewables are also set to overtake coal as the world’s largest power source by late 2025 or mid-2026, depending on hydropower output. Solar PV is projected to account for more than half of this growth, followed by wind at around 30%.