From pv magazine Germany.
German industrial conglomerate Siemens has confirmed it is planning to acquire inverter manufacturer Kaco New Energy GmbH but has not provided details of the value of what would be a costly acquisition.
The proposed transaction would include Kaco’s inverter business but would leave out the German manufacturer’s project development and engineering, procurement and construction arms. Germany’s antitrust authorities will examine the proposed deal, which Siemens said it expects to conclude by July.
Kaco’s inverter portfolio ranges from small residential applications to large-scale PV power plant products. The Neckarsulm-based inverter maker has a strong focus on string inverters for PV and storage applications, with capacities of up to 1,500 V and cutting edge semiconductor technology. Kaco also has silicon carbide-based inverters considered next-gen technology.
Siemens is already active in the market, having resumed production of its central inverters in India in December 2017.
Boosting Siemens’ inverter knowhow
“We are pleased to have found a buyer, with Siemens, in which we see our technological knowhow excellently reflected,” said Kaco managing partner Ralf Hofmann. “Embedded in a strong group of companies, Kaco New Energy is well prepared for the challenges of the coming years.”
For Siemens, the acquisition would provide access to the latest technologies, as board member Cedrik Neike explained, adding Kaco’s complementary power electronics portfolio would enable it to extend its technological leadership in high-growth business areas such as distributed energy systems.
The acquisition would also open up new segments at the interface of the electricity grid with buildings.