ABB Powers Up Renewable Energy with Strategic Acquisition
A Strategic Acquisition
ABB, a prominent leader in technology on a global scale, has declared a strategic acquisition of the power electronics division of Gamesa Electric. This move aligns with the company's objective to enhance its standing in the swiftly expanding renewable energy market. Through this acquisition, ABB will gain access to cutting-edge technology, a highly skilled workforce, and an extensive customer network.
Powering a Sustainable Future
The global transition to renewable energy sources, mainly from wind and solar, keeps gaining momentum. To keep up with the demand, ABB is expanding its portfolio of power conversion solutions in order to meet the increasing need for clean energy. The agreement with Gamesa Electric positions the company well to fulfill this strategy.
Key Benefits of the Acquisition
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Stronger Product Portfolio: ABB will expand its product offering toward a wide variety of power conversion solutions, such as DFIG wind converters and BESS. A reinforced market position, whereby the acquisition will consolidate ABB's position in key markets to be better positioned for acquiring additional share in the growing renewables market.
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Increased Service Capabilities: ABB will have the ability to provide service and maintenance for a wider range of power conversion equipment.
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Synergistic Opportunities: New opportunities for innovation and collaboration will be developed by combining expertise and resources.
Bright Future for Renewable Energy
In line with the world's transformation into a low-carbon economy, ABB remains committed to playing a leading role in driving sustainable energy solutions. With the acquisition of Gamesa Electric's power electronics business, ABB makes another important step toward greener horizons.
