ABB to buy Power-One for $1bn

ABB is self-financing the deal for Power-One

ABB is self-financing the deal for Power-One

ABB has agreed to buy US-based solar technology developer Power-One in a deal worth more than $1bn.

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. “Power-One is a well-managed company and is highly regarded as a technology innovator Log in to read complete article.

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