ABB Ltd. has completed the acquisition of Gamesa Electric’s power electronics business in Spain from Siemens Gamesa. The deal includes a supply and services agreement and generated 145 million euros in revenue last fiscal year. The acquisition adds wind converters, battery energy storage systems, and solar inverters. It also brings 400 employees across several countries and increases the company’s wind converter installed base by 46 gigawatts. Renewable electricity generation is expected to increase significantly, with solar PV and wind driving the growth. The deal was announced in December 2024 and closed on Monday. ABB’s stock closed 0.87% lower at CHF 57.22.

Read more at Nasdaq: ABB Completes Acquisition Of Gamesa Electric’s Power Electronics Business