ABB set to become major player in solar with $1 billion takeover

The article is about ABB’s decision to buy solar power firm Power-One for $1 billion. As solar power gets closer to competing with conventional forms of energy such as gas and coal, demand for solar panels that harness the sun’s energy is rising. ABB believes the solar market is set to grow its way out of overcapacity as electricity costs rise and falling prices of solar power systems make it a more competitive source of energy.

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