Siemens Gamesa Sells Power Electronics Business to ABB: Strategic Move in Energy Sector

Siemens Gamesa has agreed to sell its power electronics business to ABB, including assets in India, Spain, the US, China, and Australia. This move facilitates a strategic long-term collaboration while focusing on core business profitability and ensuring job security for around 400 transferred employees.

In a significant strategic move, Siemens Gamesa has announced the sale of its power electronics business to ABB, including its operational assets across India and several other countries, for an undisclosed sum. This decision is a part of Siemens Gamesa's efforts to concentrate on its core wind power business while ensuring sustained profitability.

The deal, which will see around 400 employees transition to ABB, includes transferring essential facilities in Spain and additional assets across the US, China, India, and Australia. Despite the handover, Gamesa Electric's generators business will remain with Siemens Gamesa, preserving its hold on key aspects of the energy sector.

Executive Vice President for Wind Power in Siemens Energy, Vinod Philip, emphasized the importance of this move in aligning with the company's long-term goals. The transaction, anticipated to finalize by late 2025, is contingent upon regulatory approvals and marks a promising collaboration, securing critical resources for both onshore and offshore projects.

(With inputs from agencies.)