Gamesa Electric achieves new record order entry for PV and storage inverters in 2024

PRESS RELEASE

Gamesa Electric closes 2024 with historic figures in the PV and storage inverter business unit, achieving 25% growth in order intake and 20% growth in revenue compared to 2023. This success confirms the strong growth that this business unit has experienced, tripling its sales in the last 3 years.

It is worth noting that ABB recently announced the purchase of Gamesa Electric’s power electronics business in wind, photovoltaic and storage inverters, a strategic move that reinforces the projection of these solutions in the global market. “The success of 2024 reflects the strength of our technology offering and our customers‘ confidence in market-leading solutions,” said Juan Barandiaran, CEO of Gamesa Electric. “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.”

The 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, accounting for almost 80% of the company’s non-wind orders.

The United States has established itself as the largest market for Gamesa Electric Proteus inverters, accounting for 68% of all megawatts contracted in 2024. In addition, 2024 was an outstanding year for expansion into other international markets, with projects contracted in 9 countries. According to Jose Luis Gutiérrez, Gamesa Electric’s Global Sales Director, ‘Among the most relevant commercial milestones, I would like to highlight the signing of agreements with major customers such as Repsol for projects in Spain and framework with Fortescue in Australia’.