Croatia, Zagreb: Power Transformers (KPT), a joint venture between KONČAR and Siemens Energy, is investing $300 M (€260 M) to expand its large power transformer facility in Jankomir, Zagreb. Construction of the expanded plant is scheduled to begin in 2026, with completion expected by 2031.
The investment aims to increase production capacity from the current 30,000 MVA to 45,000 MVA, responding to global demand for electricity transmission and distribution equipment. The expansion will create approximately 350 new jobs – 250 in production and 100 for qualified professionals.
KPT, founded in 1995, is among the world’s leading producers of large power transformers, including generator step-up transformers, autotransformers, and HVDC transformers up to 550 kV. The company currently employs 650 people.
Building on their success, KONČAR and Siemens Energy launched a second joint venture in 2024: KONČAR – Transformer Tanks (KTK). With a 60:40 ownership split, the new company will produce custom transformer tanks in a modern facility in Sesvetski Kraljevec, set to open in October 2025 and employ over 400 workers.
These strategic partnerships strengthen Croatia’s role in the global energy transition and promote industrial growth, technology exchange, and sustainable job creation.
In response to recent media reports regarding Siemens Energy’s investment in Croatia, KONČAR Group wishes to clarify the situation to prevent the further spread of inaccurate and potentially misleading information. Neither KONČAR nor Siemens Energy authored or confirmed the content of the aforementioned reports. As a publicly listed company, KONČAR is committed to transparent and responsible communication and has a legal and ethical obligation to provide the investment public with accurate and verified information.
Source: KONČAR
