Siemens Gamesa sells its power electronics business to ABB

19 Dec 2024 CW Team

Siemens Gamesa has 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. The generators business of Gamesa Electric is not included in the agreement and remains with Siemens Gamesa.

The parties have agreed not to disclose the purchase price. The agreement includes the transfer of around 400 employees, two manufacturing plants located in Spain, as well as additional assets in the US, China, India and Australia.

As part of the transaction, both companies have entered a long-term collaboration agreement through which ABB will provide power electronics to Siemens Gamesa turbines, both onshore and offshore.

With this agreement, Siemens Gamesa continues to progress in its strategy of focusing on its core business, while partnering with a global technological leader in the sector. The transaction will foster the growth of the Gamesa Electric power electronics business, reinforcing the future of its manufacturing plants and employees.

Vinod Philip, Executive Vice President for Wind Power in Siemens Energy: "Our primary goal for Siemens Gamesa is to achieve profitability, which requires a dedicated focus on our core business. The make-or-buy decision is a constant consideration for us and in this case Gamesa Electric will be better positioned to thrive under ABB's umbrella. Nevertheless, through this cooperation agreement, we are securing essential capacities. I am pleased that we have found a solution for our nearly 400 employees, providing them with greater confidence and security for the future."

The transaction is expected to be closed in the second half of 2025 and is subject to regulatory approvals of the respective authorities.

Infrastructure Urban

06 Jul 2026

ABS Marine Sees CRISIL Credit Rating Upgrade

ABS Marine Services has secured an upgrade to its long term and short term credit ratings from CRISIL, reflecting improved profitability and revenue growth through long term contracts. CRISIL moved the long term rating from BBB+/Stable to A-/Stable and revised the short term rating from A2 to A2+. The action signals strengthened financial metrics and operational resilience. The company benefited from durable client relationships with firms such as ONGC and Schlumberger. The rating decision followed stronger cash flows and an enlarged bank loan facility, which increased from Rs 3,705 million (m..

Project BRAHMANK Marks 16 Years Of Strategic Roads In Arunachal

Project BRAHMANK is marking 16 years of work to establish strategic road and bridge links across Arunachal Pradesh, maintaining and developing 811 kilometres of roads and nearly 86 bridges that range from small culverts to large steel and arch bridges. These transport links are described as critical for ensuring year-round movement of defence personnel, equipment and essential supplies while improving everyday travel for people in remote villages. The project balances national security requirements with regional development by focusing on reliable access in challenging terrain. Notable enginee..

Longleng CSOs Give One Week Ultimatum Over Two-Lane Highway

Civil society organisations (CSOs) in Longleng district have demanded immediate restoration of the deteriorating Changtongya–Longleng two-lane road and sought a detailed status report on the stalled construction within one week. The demand followed a consultative meeting convened under the Phom Peoples' Council (PPC) to discuss welfare and development concerns. PPC president YB Angam Phom said prolonged non-maintenance had caused hardship to commuters and affected transportation, local commerce and the district's development. The meeting urged authorities to undertake immediate restoration a..