ABB announced today the completion of its acquisition of Gamesa Electric's power electronics business in Spain from Siemens Gamesa, originally announced on December 18, 2024. Financial terms were not disclosed, though the acquired business reported annual revenues of approximately EUR 145 million for the fiscal year ended September 30, 2025.

The transaction brings approximately 400 employees into ABB, including key resources in India, China, United States, and Australia, along with two converter factories located in Madrid and Valencia. ABB has also entered into a supply and services agreement with Siemens Gamesa as part of the deal.

Acquired Portfolio and Technology

The acquired portfolio includes power conversion products such as wind converters for doubly-fed induction generator (DFIG), industrial battery energy storage systems (BESS), and utility-scale solar inverters. Gamesa Electric brings over 45 years of experience in power electronics, deep technical expertise in solar and renewable applications, and strong customer relationships.

The acquisition increases the total capacity of ABB's serviceable installed base of wind converters by approximately 46 gigawatts and supports the Motion business area's profitable growth strategy.

Strategic Positioning in Renewable Energy Market

The acquisition strengthens ABB's position in renewable power conversion as the company positions itself to capitalize on predicted market growth. By 2030, renewable energy is expected to supply 43% of global electricity, driven by strong growth in solar and wind power.

Daniel Gerber, Business Line Manager, Renewable Power of ABB's Motion High Power division, stated: “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.”

Global Renewable Energy Growth Projections

According to the International Energy Agency, electricity generation from renewables is expected to increase 60% from 9,900 TWh in 2024 to 16,200 TWh in 2030. Renewables are expected to surpass coal at the end of 2025, or by mid-2026 at the latest, depending on hydropower availability, to become the largest source of electricity generation globally.

Solar PV alone accounts for over half of this increase, followed by wind at roughly 30 percent. The acquisition positions ABB to capitalize on International Energy Agency's predicted market growth with modernization and service opportunities in the renewable sector.

About ABB

ABB is a global technology leader in electrification and automation, enabling a more sustainable and resource-efficient future. By leveraging its engineering and digitalization expertise, ABB helps industries run at high performance while becoming more efficient, productive, and sustainable, enabling them to outperform. The company refers to this approach as “Engineered to Outrun.”

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