HOME / It s a bit unexpected that ABB divests its photovoltaic inverter business

It s a bit unexpected that ABB divests its photovoltaic inverter business

Solar power solutions

Please note ABB has signed an agreement with Firmer to acquire the solar inverter business. Read the press release here. Highlights. Applications for Solar. ABB cools its Dalmine site with solar power. 2019-08-13. Prosumers

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It s a bit unexpected that ABB divests its photovoltaic inverter business [PDF]

6 FAQs about [It s a bit unexpected that ABB divests its photovoltaic inverter business]

Why did ABB divest its solar inverter business?

ABB has completed its divestment of its solar inverter business to the Italian company FIMER SpA. The transaction enables ABB’s Electrification business to improve the focus of its business portfolio on priority growth markets and enhance business opportunities for the solar inverter business under FIMER.

Is Fimer acquiring ABB's solar inverter business?

ABB and FIMER S.p.A have signed an agreement for FIMER to acquire ABB’s solar inverter business. This transaction will enhance the future prospects of the solar inverter business and enable ABB to focus its business portfolio on other growth markets.

Where are ABB solar inverters manufactured?

ABB's solar inverter business has manufacturing and R&D sites located in Italy, India, and Finland. It includes the solar inverter business from Power-One which was acquired by ABB’s Discrete Automation and Motion division in 2013. Approximately 800 employees work in this business in more than 30 countries.

Does ABB have a business in the solar industry?

ABB's portfolio includes a business dedicated to solar installations, which generated approximately $290 million in revenues in 2018. This business is currently part of ABB’s Electrification business.

How much money did ABB make last year?

ABB said its inverter business generated $290 million in revenue last year. A portfolio of products, systems, and services for different types of solar installations held by ABB’s electrification business will be sold to Fimer.

Who owns ABB Discrete Automation & motion?

ABB's Discrete Automation and Motion division includes the solar inverter business from Power-One, which was acquired by it in 2013. The business offers a comprehensive portfolio of products, systems, and services for different types of solar installations.

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