Solar Auctions Surge by 229% in Q1 2024, Tender Activity Up 122%

Global Wind Installations Reached 1 TW Milestone in 2023

Funding and M&A Roundup: Nexamp Secures $520 Million

Project Finance Brief: Arevon Secures $352 Million for Posey Solar Project

Indian Oil Issues Empanelment Tender for Solar Power Projects

Southern Railway Seeks Bids for 1.2 MW Rooftop Solar Projects in Chennai

Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

Doubling Transmission Capacity of Existing Grid Through Reconductoring: Report

Daily News Wrap-Up: BJP, Congress Bet Big on Renewables in Election Manifestos

As ISTS Waiver Nears End, Developers Need Extension Amid Lack of Substations

<p>German conglomerate <a href="https://new.siemens.com/in/en.html" target="_blank" rel="noopener">Siemens</a> has announced the acquisition of the string inverter business of the <a href="https://www.kaco.de/en/" target="_blank" rel="noopener">KACO new energy GmbH</a>, a manufacturer of energy-related power electronics, for an undisclosed sum. The project development and EPC activities are not part of the acquisition. The transaction is expected to be completed in the first half of 2019, subject to regulatory approval.</p>
<p>KACO new energy&#8217;s product line covers inverters designed for residential, commercial and industrial segments and also megawatt-scale solar parks. It focuses on string inverters for solar and storage applications, up to 1500V and using the latest semiconductors. The company has its business spread across nine countries across the globe.</p>
<p>&#8220;With this acquisition, Siemens gains access to the latest technology, while KACO new energy will benefit from the resources required to scale up. Together, we will be able to apply the technology in exciting growth segments&#8221;, explains Cedrik Neike, Managing Board Member of Siemens AG.</p>
<p>Jean-Christoph Heyne, Head of Siemens&#8217; new Future Grids business, adds: &#8220;Siemens is in a strong position to succeed in technology that supports the energy and mobility transition. The acquisition of KACO new energy enhances our portfolio in attractive growth segments at the grid edge. Our new Smart Infrastructure Operating Company comes into operation on April 1, 2019, where our strengths in electrification and buildings will enable us to thrive in the market and continue to expand in the areas of decentral energy, renewables, storage and electric vehicle charging infrastructure.&#8221;</p>
<p>With the growth of distributed energy, renewable energy sources and e-mobility are playing an increasingly important role in the energy value chain, requiring increasing intelligence via an open and flexible ecosystem of technology, solutions, and services. Siemens expects that with the complementary power electronics portfolio of KACO new energy, it can strengthen its technological leadership in the fields of decentralized energy systems and provide corresponding benefits to customers.</p>
<p>In <a href="https://mercomindia.com/siemens-generation-solar-inverters-india/" target="_blank" rel="noopener">December 2017</a>, Siemens launched Sinacon PV a new generation of photovoltaic (PV) central inverters with an output up to 5,000 kVA. The manufacturing is at Siemens’ Kalwa plant near Mumbai for the domestic market as well as for export.</p>
<p>According to <a href="https://mercomcapital.com/research/" target="_blank" rel="noopener">Mercom Research</a>, in January 2019, KACO new energy GmbH announced that it had entered into an agreement with South Korean chemical and renewable energy group OCI for the sale of its South Korean subsidiary.</p>
<p>Image credit: KACO</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/shaurya-bajaj/" class="vcard author" rel="author"><span class="fn">shaurya</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><span style="font-family: Calibri"><span style="color: #000000"><span>Shaurya is a staff reporter at MercomIndia.com with experience working in the Indian solar energy industry for the past four years in various roles. Prior to joining Mercom, Shaurya worked with a renewable energy developer and a consulting company. Shaurya holds a Bachelors Degree in Business Management from Lancaster University in the United Kingdom. </span></span></span></p>
</div></div><div class="clearfix"></div></div></div>

Siemens Acquires KACO New Energy’s Solar String Inverter Business

decentralised-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS