ABB buys solar energy company Power-One for billion dollar

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ABB acquires the U.s. solar company Power-One. The Swiss builder of power plants imposes $ 1 billion down for Power-One. The American company provides inverters that solar energy to convert into ac power that is suitable for the power supply.

Now the boards of directors of both ABB and Power-One acquisition be approved, is the agreement a fact. ABB offers 6,35 dollar per share of Power-One, 59 percent above the price of last week. This explains ABB’s $ 1 billion down for Power-One. ABB is known primarily as a supplier of power plants and high-voltage electricity grids. With the acquisition wants ABB share on the market for renewable energy increase.

Power-One makes inverters, the dc power provided by solar panels sales into ac power that can be supplied to the local power grid. The American company is the second player in that market, after the German SMA Solar.

ABB makes the step at a time that the market for solar panels is saturated seems. So had SMA Solar a month ago, a decline of 58 percent reporting. Siemens and Bosch, competitors of ABB on the market for power plants, completed recently their sidestep on the market of solar energy. Due to the economic crisis government grants withdrawn, the market collapses, while there are understand more and more providers are coming out of solar panels. ABB sees nevertheless opportunities. That the price of electricity rises, while the price of solar panels properly drops, it proves, according to the Swiss concern that solar energy is a competitive form of energy.