Siemens to acquire the string inverter business of Kaco New Energy
Post date: 03/03/2019 - 17:53
German Siemens AG has announced plans to acquire the string inverter business of the Kaco New Energy GmbH, German manufacturer of energy-related power electronics, for an undisclosed sum. The project development and EPC activities are not part of the acquisition. The closing of the transaction is subject to regulatory approval and expected in the first half of 2019.
Kaco New Energy, headquartered in Neckarsulm, is active in more than nine countries with local sales and service companies and has more than 350 employees. Kaco’s product line covers the full power range, from inverter units designed for a family home, commercial buildings and infrastructures to complete systems for solar parks. Since 1999, Kaco has supplied inverters with a cumulative power output of 13 GW.
As reported, Kaco recently has opened its new office in Taoyuan City in Taiwan. In January the inverter manufacturer has sold its South Korean subsidiary, Kaco New Energy Inc., to Korean company OCI Power. OCI acquired in particular the technology and manufacturing for central inverters that Kaco has established in South Korea. At that time, Kaco said, the company will »concentrate on the development of products and solutions in the field of string inverters and energy storage at its German locations.«