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20.07.2019 22:31:00

Solar Energy Provides Another Cautionary Tale

One of the biggest electricity infrastructure suppliers in the world is throwing up its hands and giving up on solar energy. ABB (NYSE: ABB) is unloading the solar inverter business, formerly known as Power-One, that it acquired in 2013 for $1.03 billion, which included $266 million in acquired cash. The company isn't just taking a loss on the deal, it's reportedly paying Fimer $470 million to take the business off its hands.Very few companies have managed to generate long-term value in the solar industry, and one of the most volatile segments of the market has been the inverters that ABB was making. The devices that turn direct current (DC) to alternating current (AC) used in the electric system are a necessity in any solar project, but they've also been a very difficult business to be in. And that makes the segment a conundrum for solar energy investors.Image source: Getty Images.Continue reading
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