ABB, a Switzerland-based industrial conglomerate specializing in electrification and automation, has announced the acquisition of Gamesa Electric’s power electronics business in Spain from renewable energy developer Siemens Gamesa.
The acquisition was initially announced on December 18, 2024, and the financial terms were not disclosed. The business reported annual revenues of approximately €145 million (~$170 million) for the fiscal year ended September 30, 2025.
Gamesa Electric provides design and manufacturing of electrical equipment, with experience in photovoltaics, energy storage applications, hydroelectric energy, marine propulsion, wind power, and other areas.
The acquired portfolio includes power conversion products like wind converters for doubly-fed induction generators, industrial battery energy storage systems, and utility-scale solar inverters.
This acquisition is expected to strengthen ABB’s position in renewable power conversion, and is expected to increase the total capacity of ABB’s serviceable installed base of wind converters by approximately 46 gigawatts, and supports the profitable growth strategy of the Motion business area.
Also, the transaction brings in around 400 employees, including key resources in India, China, the U.S, and Australia, and two converter factories in Madrid and Valencia.
“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,” said Daniel Gerber, Business Line Manager, Renewable Power of ABB’s Motion High Power division.
According to Mercom’s 9M and Q3 2025 Solar Funding and M&A report, in 9M 2025, 76 solar M&A transactions were executed compared to 62 in 9M 2024. The largest transaction was by ONGC NTPC Green, which signed a share purchase agreement to acquire a 100% equity stake in the Indian utility-scale renewable energy platform, Ayana Renewable Power, for $2.3 billion.
In August, Activ8 Energies, an Ireland-based solar panel provider, acquired solar energy solutions provider, Low Carbon Energy (LCE). Activ8, 50% owned by SSE Airtricity (a SSE subsidiary), aims to double its turnover and solar capacity through this acquisition, expanding beyond Ireland to become a leading renewable energy provider for U.K. commercial and industrial sectors.
