Siemens has sold its power electronics business to ABB

Siemens Gamesa is selling its power electronics business, part of Gamesa Electric, to ABB for an undisclosed price. The business, which designs and manufactures components for wind, solar, and storage industries, has assets in the US, China, India, and Australia, as well as two manufacturing plants in Spain. Around 400 employees will be transferred to ABB. The deal does not include Gamesa Electric’s generators business, which will remain with Siemens Gamesa. A long-term collaboration agreement will see ABB supply power electronics to Siemens’ turbines. The transaction aims to help Siemens Gamesa achieve profitability by focusing on its core business. The deal is expected to close in the second half of 2025, pending regulatory approvals.