Siemens has announced plans to acquire the string inverter business of KACO new energy, at an as yet undisclosed sum, subject to regulatory approval.
KACO is headquartered in Neckarsulm, Germany, manufacturers of energy-related power electronics.
The company’s inverter units are designed for residential and commercial buildings as part of solar park systems and focusses on the fastest growing segments of string inverters for solar and storage applications.
“With this acquisition, Siemens gains access to the latest technology, while KACO new energy will benefit from the resources required to scale up. Together, we will be able to apply the technology in exciting growth segments”, explained Cedrik Neike, managing board member at Siemens.
Siemens is looking to strengthen its presence in high-growth fields such as decentralised energy systems. The company says distributed energy, renewables and e-mobility are playing an increasingly important role in the energy value-chain.
Jean-Christoph Heyne, Head of Siemens’ new Future Grids business, noted: “Siemens is in a strong position to succeed in technology that supports the energy and mobility transition. The acquisition of KACO new energy enhances our portfolio in attractive growth segments at the grid edge. Our new Smart Infrastructure Operating Company comes into operation on April 1, 2019 where our strengths in electrification and buildings will enable us to thrive in the market and continue to expand in the areas of decentral energy, renewables, storage and electric vehicle charging infrastructure.”