ABB recently announced the acquisitions of Lumin, an energy management company, and Gamesa Electric’s inverter and converter segment.
As a global company that specializes in electrification and automation, these two companies expand ABB’s repertoire in serving the buildout of clean energy technologies.
With Lumin, ABB expands its home energy management capabilities, bringing Lumin’s intelligent solutions for electrification into its portfolio in the North American residential sector. The acquisition follows a strategic minority investment by ABB into the company in 2023. At the time ABB planned to help Lumin accelerate its accessible home energy management solutions, which complement ABB’s residential portfolio.
Lumin’s energy management solutions are used in the integration of load centers, battery systems and generators. The Lumin system also provides insights into behind-the-meter consumption and dynamically manages energy loads such as electric vehicle chargers, heat pumps and more.
This acquisition supports ABB’s growth strategy in the North American residential market, where demand is expected to increase with the move toward electrification. With Lumin’s hardware and cloud-based software capabilities, ABB can expand its support for sustainable home energy solutions.
“We’re excited to welcome Lumin into the ABB family at a time when electrification across North America is a transformative megatrend,” said Mike Mustapha, president of ABB Electrification’s Smart Buildings Division.
Gamesa Electric
With ABB’s acquisition of Gamesa Electric’s inverter and converter segment from Seimens Gamesa Renewable Energy, ABB will broaden the reach of Gamesa’s power electronics business in wind, photovoltaic and storage inverters.
“The ABB integration agreement is a pivotal factor in driving the growth of our power electronics business. It significantly enhances our capacity to innovate and compete in the renewable energy market. We are well-prepared to face future challenges with a more robust and distinctive proposition,” said Juan Barandiaran, CEO of Gamesa Electric.
Gamesa’s flagship product in 2024 was the Gamesa Electric Proteus family of inverters, both in its versions for solar applications and the new Proteus PCS-E for storage.
The Proteus PV up-to-4,700 kVA central inverter was a pv magazine Award winner in 2022. The award description notes that the inverter showed a careful evolution of Gamesa’s PV central devices, bringing commendable efficiency and features to match a range of demands from solar developers.
While the U.S. is the largest market for Gamesa, it now has projects contracted in nine countries. The company reported that it closed 2024 with 25% growth in order intake and 20% growth in revenue compared to 2023.
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