ABB India Powers Up: Snaps Up Siemens Gamesa’s Renewable Assets in ₹170 Million Deal

ABB India Ltd declared today that it is to purchase the fixed assets and inventories of Siemens Gamesa Renewable Power, a major step to reinforce its dominance in the renewable energy business. The deal consideration is estimated at a maximum of ₹170 million. The deal involves major assets in India and is part of a larger global deal where ABB had bought the power electronics business of Gamesa Electric, a subsidiary of Siemens Gamesa.

This decision marks the near close of the transaction executed through an agreement in December-2024, where Siemens Gamesa had reached an agreement to sell its power electronics business to ABB.

The business – part of Gamesa Electric – designs and manufactures converters, inverters and control cabinets for wind, solar and storage industries. This strategic buy has greatly improved ABB's product and service portfolio to original equipment manufacturers (OEMs) of renewable energy and end-users. The transaction executed in late 2024, involved state-of-the-art power conversion technology, including wind converters, battery energy storage, and solar power inverters. More than 400 employees, including highly technical engineers in India, China, the US, and Australia, have become a part of ABB, further building its expertise and operational capacity.

ABB plans to use these assets to grow its installed base in power conversion and gain opportunities in repowering and modernization in the rapidly expanding renewable energy business.

Source: Economic Times Energy