The acquisition will catapult the Zurich-based industrial group into the first rank of suppliers of PV inverters – the system that converts variable direct current output from solar installations into a grid-ready alternating current.
Power-One, which has its headquarters in California, is the global inverter market number two after Germany's SMA Solar.
“Solar PV is becoming a major force reshaping the future energy mix because it is rapidly closing in on grid parity,” says ABB CEO Joe Hogan.
