This morning Ingeteam has inaugurated a power electronics and control equipment manufacturing plant in Bizkaia (Spain). The plant is to manufacture power converters to be used in the railway traction, mining, shipbuilding and steel industries, in power generation, in electricity grids and in power storage.
It features a 5,500 m2 factory floor plus 1,000 m2 of office space, and is manned by 70 workers who manufacture power converters: handling supply chain management, industrialisation, manufacturing and quality control. The facilities have a test bench for both routine testing of finished products and testing of prototypes.
Power converters are key items of electronic equipment in systems that connect to rotating electrical equipment (generators and motors) and to the power grid. They help increase efficiency and controllability in various processes such as electric rail traction systems, hybrid and/or electrical propulsion for ships, the grinding of ore and the production of steel. They are also highly useful in power grids, enabling renewable energy to be stored and made available to consumers when required and thus increasing efficiency; or regulating frequency and thus preventing power outages in increasingly smart complex grids.
They are key equipment in the effort to achieve decarbonisation and contribute in the transition to sustainability in energy. Both approaches form an active part of the current strategic plan of the Ingeteam Group.
At the end of financial year 2019 the Ingeteam group recorded turnover of €637 million. This is 46% more than at the start of the 2016-2018 strategic plan, thus consolidating the group's position of international leadership in the fields in which it operates. The level of internationalisation of Ingeteam's products and services is evidenced by the fact that it does 82% of its business abroad.