ABB completes the divestiture of its solar inverter business to FIMER SpA

Create Date: 2024-8-30 12:03:23|Source: ABB

ABB has completed the spin-off of its solar inverter business to Italy company FIMER SpA. The transaction enables ABB's electrification business to increase its portfolio's focus on priority growth markets and increase business opportunities in FIMER's solar inverter business.

Tarak Mehta, President ·of ABB's Electrification business, said: "The completion of this divestment is another step in our systematic portfolio management strategy. It strengthens our competitiveness and allows us to focus on other areas of growth. ABB will continue to integrate solar energy into a range of solutions for smart buildings, energy storage and EV charging, across smart low- and medium-voltage products. ”

ABB's solar inverter business employs around 800 people in more than 30 countries, with manufacturing and R&D sites in Italy, India and Finland. It includes Power-One's solar inverter business, which was acquired in 2013 by ABB's Discrete Automation & Motion division. The business offers a comprehensive portfolio of products, systems and services for different types of solar installations.

ABB completes the divestiture of its solar inverter business to FIMER SpA

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