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’.
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