ABB officially completed the separation of inverter business

ABB group, a Swiss industrial giant, recently announced that the company has completed the divestiture of photovoltaic inverter business and successfully sold it to Italian company fimerspa (hereinafter referred to as FIMER). This marks that abb officially quits the inverter business.
In July 2019, abb announced for the first time that it would sell its photovoltaic inverter business to FIMER, Italy. Under the contract, abb will pay FIMER $430 million for related warranty and after-sales services, 75% of which will be paid by 2025. In addition, an additional US $400 million is required for the spin off.
Buyer FIMER said in a statement that the deal will make it the world's fourth largest supplier of solar inverters and expects the company to ship more than 7gw of inverters in 2020.
According to the statistics of wood Mackenzie Power & renewables, in 2018, the top five inverter manufacturers in the world were Huawei, sunshine power, SMA in Germany, powerelectronics in Spain and ABB in Switzerland.
ABB said it would continue to promote its solar power business, although it withdrew from the inverter business.


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