Siemens to acquire KACO new energy GmbH
Siemens plans to acquire the string inverter business of KACO new energy GmbH. The transaction is expected to be completed in the first half of 2019.21 Mar. 2019 Barbara Rusch
KACO new energy GmbH is one of the leading manufacturers of energy-related power electronics. Its products range from inverter units designed for family homes, large buildings, and infrastructures through complete systems for solar parks producing megawatts of electricity. The company, headquartered in Neckarsulm, Germany, is one of the world’s largest manufacturers of inverters for grid-feed solar power and has developed the next generation of inverter technology based on silicon carbide (SiC).
As the company has announced , Siemens now plans to acquire its string inverter business for photovoltaic and storage applications. The acquisition will give Siemens 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 this technology in exciting new growth segments,” explains Cedrik Neike, member of the Managing Board of Siemens AG.
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