Siemens Gamesa

Siemens Gamesa on Wednesday announced selling its power electronics business to ABB which includes assets in India for an undisclosed amount. The business designs and manufactures converters, inverters and control cabinets for wind, solar and storage industries, Siemens Energy said in a statement. The generators business of Gamesa Electric is not included in the agreement and remains with Siemens Gamesa, it said. "Siemens Gamesa has reached an agreement to sell its power electronics business to ABB. The agreement includes the transfer of around 400 employees, two manufacturing plants located in Spain, as well as additional assets in the US, China, India and Australia," the company said. As part of the transaction, both companies have entered a long-term collaboration agreement through which ABB will provide power electronics to Siemens Gamesa turbines, both onshore and offshore. The transaction is expected to be closed in the second half of 2025 and is subject to regulatory approv

Sembcorp's India unit has filed a suit in a Bengaluru court to stop Siemens Gamesa from selling country business before settling an arbitration arising from alleged default in executing a contract. In its filing before the Principal City Civil and Sessions Judge at Bengaluru, Sembcorp sought injunction over sale of the India assets of Siemens Gamesa, including its shareholding. The court issued notices to Siemens Gamesa, court documents showed. Sembcorp's India arm has filed a suit against Siemens Gamesa and its parent entity, Siemens Energy AG. Siemens Energy AG has reportedly put its India subsidiary Siemens Gamesa Renewable Energy's entire India manufacturing, maintenance and services business in renewables up for sale. This is effectively seen as a country exit for Siemens Gamesa. Considering these material events and information, which lead to reasonable apprehension regarding the continued operation of the Siemens Gamesa as a going concern, Sembcorp filed an injunction petit

Siemens Gamesa Renewable Energy's India unit fired a top executive after an investigation found he failed to conduct appropriate due diligence when engaging a consultancy with political connections

Gamesa, a Spanish wind power giant that has been operating in India for a decade, was taken over by Siemens in 2016

Siemens Gamesa started operation in India in 2009 and has installed over 5 Mw of capacity