Breaking news: Siemens to take over Kaco New Energy

3/1/19, 2:03 PM -

Siemens announced today that it will acquire the string inverter operations of Kaco new energy. The acquisition price has not been disclosed. The project development and EPC segments will not be part of the acquisition.

Siemens to take over Kaco new energy
Siemens to acquire KACO new energy GmbH

The completion of the transaction is expected in the first or second quarter of 2019, subject to regulatory approvals. Kaco new energy, based in Neckarsulm, has more than 350 staff. Kaco's factory comprises solar inverters for single-family homes and commercial installations as well as complete systems for solar parks. Kaco had recently acquired the storage provider Energy Depot from Constance to strengthen its market position in batteries. (HS/mfo)
 
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