This partnership, an extension of their longstanding collaboration since 1994, aims to enhance manufacturing capacities for transformer tanks, a critical component in Europe’s energy transition.
The joint venture will be based at KONČAR’s facility in Sesvetski Kraljevec and is expected to significantly increase production, streamline sales, and foster the exchange of expertise between the two companies. KONČAR will hold a 60% majority stake in the new company, with Siemens Energy owning the remaining 40%, pending regulatory approvals.
“The establishment of this joint company represents a synergy of knowledge, experience, and innovation,” said Marko Primorac, the Special Delegate of the Prime Minister and Deputy Prime Minister of Croatia. “This collaboration will play a key role in ensuring a reliable and efficient supply of electricity and contribute to the decarbonization of the power sector.”
The rising demand for transformers, driven by the EU’s energy transition, underscores the importance of this venture. The new facility is set to produce around 160 large power transformer tanks annually, supporting energy supply for approximately 2.4 million households.
KONČAR’s President, Gordan Kolak, emphasized the venture’s significance, stating, “This collaboration enhances our crisis resilience, speeds up operational efficiency, and boosts effectiveness in related sectors, paving the path for substantial business growth and improved working conditions.”
Tim Holt, Member of the Executive Board of Siemens Energy AG, highlighted the importance of transformer tanks, saying, “They increase the reliability, safety, and longevity of this critical equipment. KONČAR was a natural partner for us, and we are delighted to continue our strong relationship.”
This joint venture is set to play a pivotal role in advancing Europe’s energy goals, blending the global expertise and advanced technological foundations of both KONČAR and Siemens Energy.
