What Ormazabal does

Ormazabal is a Spanish manufacturer of electrical grid infrastructure equipment for medium and high voltage applications, headquartered in Derio (Bizkaia) in the Basque Country and operating as a subsidiary of the Velatia technology group. The company designs and manufactures primary and secondary distribution switchgear, transformers, low voltage switchboards, prefabricated substations, and protection and automation systems, complemented by proprietary software including ekorsys for grid management, a BIM library for infrastructure planning, and amikit 5.0 for product information management. Its most differentiated technical offering is a complete SF6-free product line for distribution up to 24 kV, using natural air, fluoronitrile, and solid dielectric alternatives, supported by in-house High Power Laboratory (HPL) and UDEX demonstration and experimentation facilities at its Centro de Investigación y Tecnología (CIT) R&D center in Igorre.

The company serves electric utilities, renewable energy developers, and industrial operators with critical power needs across Europe and selected international markets (including Chile and broader EMEA). Named customers include Iberdrola, with whom Ormazabal collaborates on renewable grid connections (Windpark Geldern, Boldekow solar park) and Iberdrola's Global Smart Grids Innovation Hub, and EDP, which awarded Ormazabal the Premio a la Excelencia in 2025 and Best Performer 2024. Beyond core utilities, Ormazabal is targeting data center operators and electric mobility infrastructure as emerging verticals.

Ormazabal generates revenue through project-based direct sales of manufactured equipment and customized electrical solutions, structured as multi-year contracts with FCA Incoterms factory delivery. Manufacturing is concentrated in Spain (Igorre for switchgear and global R&D; Loeches, Madrid for transformers, where it is the largest transformer manufacturer in Spain) with a new industrial headquarters under construction in Krefeld, Germany (€10M investment, completion 2027) to serve Central and Eastern European markets. Recent capital programs include a €35M 2024-2026 modernization of the Igorre plant and a €40M R&D loan from the European Investment Bank in December 2022 supported by InvestEU.

Name

Ormazabal

Legal name

Ormazabal Electric, S.L.U.

Website

https://ormazabal.com

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ormazabal is a Spanish manufacturer of medium and high voltage electrical grid equipment, including SF6-free switchgear, transformers, and digital grid management software, serving electric utilities and renewable energy developers across Europe.

Ownership category

akta.pro rank

Product category

Electrical Power Distribution Equipment

NAICS

Switchgear and Switchboard Apparatus Manufacturing (335313), Power, Distribution, and Specialty Transformer Manufacturing (335311), Electric Power Transmission, Control, and Distribution (22112)

SIC

Switchgear & Switchboard Apparatus (3613), Power, Distribution & Specialty Transformers (3612), Electrical Industrial Apparatus (3620)

akta.pro primary industry

Switchgear & Switchboards (HV/MV/LV, GIS/AIS) (IMAGAAAB)

akta.pro secondary industries

Low-Voltage Switchboards & Panelboards (LV distribution panels, MCCs, switchboards) (IMAGAEAA), High-Voltage Electrical Systems (Switchgear, Transformers, Protection & Control) (EUAEAFAA), Substation Systems & Integration (EPC, Engineering, Protection, Commissioning) (IMAGAAAC), Microgrid & Distributed Grid Equipment (Controllers, Switchgear Packages, DER Interconnection) (IMAGAAAJ)

Keywords

• Medium voltage switchgear
• Power transformers
• Electrical grid solutions
• SF6-free switchgear
• Prefabricated substations

Headquarters

HQ city

Zamudio

HQ country

Spain

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Technology or R&D, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Electrical equipment manufacturing and sales: Manufacturing and sale of electrical distribution equipment including primary and secondary distribution cells, transformers, low voltage switchboards, prefabricated substations, protection and automation systems. Revenue generated through direct project-based sales to utilities, renewable energy developers, and industrial customers.
2. Customized electrical solutions and systems integration: Customized high-tech electrical solutions tailored to customer specifications, including system integration and configuration services.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Ormazabal designs, manufactures, and supplies electrical grid equipment for medium and high voltage applications, including primary and secondary distribution switchgear cells (with a complete SF6-free range up to 24 kV), transformers, low-voltage switchboards, prefabricated transformation/connection centers, and protection and automation systems. It complements this hardware portfolio with proprietary software tools (ekorsys, BIM Library, amikit 5.0) and customized system integration services for utilities, renewable developers, data centers, and green mobility operators.

Product overview

Ormazabal is a Basque technology company specializing in electrical grid solutions, offering a comprehensive portfolio of hardware and software products for power distribution. The product range includes primary and secondary distribution switchgear cells, transformers (making them Spain's largest manufacturer), low voltage switchgear panels, prefabricated transformation centers, and protection and automation systems. The company complements its hardware with digital tools including ekorsys software for grid management, a BIM library for design integration, and amikit 5.0 for product information management. The company emphasizes SF6-free solutions for both primary and secondary distribution up to 24 kV, addressing environmental sustainability in electrical infrastructure.

Differentiator

Problem solved

Functional benefit

Brands

• ekorsys: Software brand offering grid management and digital solutions.
• amikit

Products and services

• Celdas de distribución primaria (Primary distribution switchgear) Primary distribution switchgear cells for medium-voltage electrical distribution, part of Ormazabal's core hardware range adapted to country-specific and customer requirements; includes the SF6-free range up to 24 kV.
• Celdas de distribución secundaria (Secondary distribution switchgear)
• Transformadores (Transformers)
• Cuadros de baja tensión (Low-voltage switchboards)
• Centros prefabricados (Prefabricated transformation and connection centers)
• Protección y automatización (Protection and automation systems)
• Software ekorsys
• amikit 5.0

Quantifiable outcome

• SF6-free units expected to represent over 30% of new installations by 2030 in Spain
• +2 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Eight partnerships are on record, tiered minor and core.

• TECNALIAminorStrategic or Co-development PartnerConsortium partner in VirQA initiative for 12 months of research into digital technologies for smart grids. Project developed test environments for advanced smart grid services deployment.
• ZIVminorStrategic or Co-development PartnerConsortium partner in VirQA smart grid research initiative alongside TECNALIA, Ormazabal, and University of the Basque Country.
• University of the Basque Country (EHU)minorStrategic or Co-development PartnerAcademic partner in VirQA consortium developing test environments for smart grid services.
• Alianza PrimeminorOthersMember of VirQA project advisory committee providing validation of project work lines and technology transfer opportunities.
• AclaraminorOthersMember of VirQA project advisory committee for smart grid technology validation.
• Energy ClusterminorOthersMember of VirQA project advisory committee representing energy industry cluster interests.
• IngeteamminorOthersMember of VirQA project advisory committee for technology transfer analysis.
• VelatiacoreOthersParent company of Ormazabal. Velatia is a Basque technology group that includes multiple technology companies operating in electrical grid solutions and related sectors.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• ABB: Global electrification and automation leader with a broad medium-voltage switchgear, transformer, and protection portfolio. ABB is explicitly identified alongside Ormazabal in Spain's pad-mounted switchgear market and competes on the same utility and renewable integration tenders.
• Siemens Energy: Major T&D and grid technology supplier with MV switchgear, transformers, and grid digitalization offerings. Named alongside Ormazabal in Spain's pad-mounted switchgear market and competes for European utility and renewable integration projects.
• Schneider Electric: Global energy management and automation company with extensive MV/LV switchgear, transformer, and grid software offerings. Competes directly with Ormazabal on utility digitalization and renewable connection projects across Europe.
• Hitachi Energy: Specialist in grid hardware including HV/MV switchgear, transformers, and grid integration solutions, formed from Hitachi's acquisition of ABB Power Grids. Direct competitor in the same product categories and utility customer base as Ormazabal.
• Eaton: Diversified power management company with MV switchgear, transformers, and grid components. Overlaps with Ormazabal on utility and industrial electrical distribution projects globally.
• GE Vernova: Spin-off focused on power, wind, and electrification including grid solutions and switchgear. Competes with Ormazabal on utility grid modernization and renewable integration projects across Europe.
• Toshiba Energy Systems: Provides T&D equipment including switchgear, transformers, and grid solutions for utilities globally. Overlaps with Ormazabal's medium-voltage switchgear and transformer offering for utility and renewable customers.

Direct peers

• Arteche: Spanish-headquartered specialist in transformers, instrument transformers, and related grid equipment. Identified alongside Ormazabal in Spain's pad-mounted switchgear market and shares the same Iberian utility customer base.
• Lucy Electric: UK-based specialist manufacturer of MV switchgear, ring main units, and package substations for utilities. Direct competitor in secondary MV distribution switchgear, the same product category as Ormazabal's secondary distribution cells.
• S&C Electric Company: Specialist in MV switching and protection equipment, self-healing grid solutions, and renewable integration products. Directly comparable to Ormazabal's MV switchgear and grid automation portfolio serving utilities worldwide.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/ormazabal
• YouTubeyoutube.com/@ormazabalelctrica
• LinkedInlinkedin.com/company/ormazabal

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ormazabal