“The acquisition of Power-One expands our renewables businesses and provides substantial opportunities to create value for our customers, employees and shareholders,” said ABB’s CEO, Joe Hogan.
ABB says this transaction positions it as a “leading global supplier” of solar inverters, as Power-One’s offering ranges from residential to utility applications. It also has a power solutions portfolio that is adjacent to ABB’s business, adds the company.
“We are happy to join the ABB family and look forward to a bright common future,” said Richard J. Thompson, CEO of Power-One. “Together we can better address the growing worldwide demand for innovative, renewable energy solutions and strengthen our global leadership. ABB is the right partner and now is the ideal time for our companies to join forces.”
Photo 1: Solar panels in Spain.
Photo 2: Solar panels with inverter (Aurora Trio)
Photo 3: The latest in Power-One’s Aurora range, this 3-phase inverter.
Photo 4: The largest solar power inverter in the Power-One Aurora product range, the Ultra 1.5MW unit is designed with large utility-grade installations in mind.
Photo 5: The PV power plant at ABB Helsinki.