Kossler engineers, manufacturers and executes small hydro plants and in the last financial year revenues were approximately Euro17M (US$25M). The firm is located in St. Georgen, Austria, with 74 staff.

Following the completion of the proposed acquisition, which is subject to regulatory approval, Voith Siemens plans to keep Kossler as a subsidiary within its small hydro division – Voith Siemens Hydro Power Generation GmbH & Co KG St Polten.

In a statement, Voith Siemens said increased demand for renewables development laced high importance on better global capabilities for both firms.

Volpert Briel, head of Voith Siemens’ small hydro division, said: “Product portfolio and global spread of both companies complement each other and will together embrace much more than just the addition of two companies.”