I had to re-commission some 2300V VFDs after they were flooded by a mixture of storm/sea/sewer water. That's exactly what we did, took the PCBs out and ran them through a regular dishwasher to get all the contamination off, then I rinsed them in deionized water one last time before blow drying them. We also did hose down the power structure with fresh water after removing everything removable and went through the recommended drying procedure. But we scrapped and replaced anything that was not encapsulated or could not be effectively opened up and cleaned out, such as circuit breakers, small relays, control power transformers etc. The drives worked fine after we got done. When I left Seattle in 1997, they were still running after about 5 years from when we did the rebuild. Don't know if they still are, but most likely that would be because of a change in technology (these were old Robicon Current Source Inverters and are no longer made or supported).
The thing is, that was a LOT of effort, but we were salvaging 2 VFDs that at that time were worth a half million dollars, so it was worth it. Some 600V switchboards? Not likely in my opinion to be worth the effort compared to replacement other than to buy some time to get replacements, which from what I've heard is already getting difficult. So I would say not to go to Herculean efforts here, just get it to where it works safely and get the replacement gear on order, I doubt you can save it on a more permanent basis.
"Dear future generations: Please accept our apologies. We were rolling drunk on petroleum."
— Kilgore Trout (via Kurt Vonnegut)
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