Siemens has announced plans to buy the string inverter business of Germany’s KACO new energy.
A string inverter is a device used for converting DC to AC power and is designed for high voltage DC inputs.
KACO new energy is said to be one of the largest manufacturers of inverters for solar power connected to the grid, with its product line-up covering the full power range – from single units designed for a family home to complete systems for large solar parks – as well as energy storage and grid management.
Jean-Christoph Heyne, Head of Siemens’ new Future Grids business said: “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.”
The deal is subject to regulatory approval and expected to be completed in the first half of 2019.