HOPS

What HOPS does

HOPS d.d. is the certified independent electricity Transmission System Operator (ITO) for the Republic of Croatia, responsible for operating, maintaining, and developing the national high-voltage transmission grid at 110 kV, 220 kV, and 400 kV voltage levels spanning approximately 9,300 km of transmission lines and associated transformer stations. The company was separated from the vertically integrated HEP Group in 2013 to comply with EU and Croatian energy unbundling requirements and is now state-owned with a share capital of 643,321,549 EUR divided into 49,486,273 shares. Its core technology stack comprises SCADA-based real-time grid control systems, Flow-Based capacity calculation engines aligned with the CORE Capacity Calculation Region (CCR) methodology, and European market coupling platforms (SDAC, SIDC, IGCC, MARI, PICASSO) that enable cross-border electricity trade.

The company's service portfolio covers electricity transmission, system services (frequency and voltage control, restoration), grid connection services, cross-border transmission, and balancing services, with a new automated Platform for Balancing (Platforma za uravnoteženje) scheduled for June 2026 introducing daily aFRR/mFRR reserve auctions and 15-minute imbalance settlement. HOPS participates in ENTSO-E and several EU-funded R&D consortia (SINCRO.GRID with Slovenian ELES/SODO; CROSSBOW under Horizon 2020; CEKOM cybersecurity), maintains ISO 14001 (environmental) and ISO 50001 (energy management) certifications, and is regulated by the Croatian Energy Regulatory Agency (HERA) and EU bodies ACER and the European Commission. Revenue is derived from regulated transmission tariffs collected across all market participants (generators, distribution system operators, suppliers, and large consumers) connected to the grid; specific tariff rates are not publicly disclosed, and pricing falls under HERA's regulatory oversight.

Name

HOPS

Legal name

Hrvatski operator prijenosnog sustava d.d.

Website

https://hops.hr

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

HOPS d.d. is Croatia's certified independent electricity Transmission System Operator, operating approximately 9,300 km of high-voltage grid infrastructure and providing regulated transmission, system balancing, and cross-border market coupling services to all generators, distribution operators, suppliers, and consumers connected to the national grid.

Ownership category

akta.pro rank

Product category

Electricity Transmission & Grid Operations

NAICS

Electric Bulk Power Transmission and Control (221121), Electric Power Transmission, Control, and Distribution (22112)

SIC

Electric Services (4911)

akta.pro primary industry

System Operations & Control Centers (EMS/SCADA for Transmission) (EUADAAAG)

akta.pro secondary industries

Congestion Management & Ancillary Services Procurement (Balancing/Reserves) (EUADAAAJ), Interconnection & Grid Access Services (Connection Agreements, Queue Mgmt) (EUADAAAI), Cross-Border Interconnectors & Regional Transmission Coordination (EUADAAAB)

Keywords

• Electricity transmission services
• Power system operation
• Grid balancing services
• Cross-border market coupling
• Transmission system operator

Headquarters

HQ city

Zagreb

HQ country

Croatia

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Distribution channels1 record

Marketing channels3 records

Core offering

HOPS (Hrvatski operator prijenosnog sustava d.d.) is the certified independent electricity transmission system operator in Croatia, transmitting electricity across the high-voltage grid (110, 220, and 400 kV) spanning approximately 9,300 km of transmission lines. The company provides regulated transmission services, system operation (frequency and voltage control), grid connection for new users, cross-border transmission services, and balancing services through the Platforma za uravnoteženje (Platform for Balancing) covering automated aFRR and mFRR reserve procurement. HOPS also participates in European market coupling mechanisms (SDAC, SIDC, CORE Flow-Based Market Coupling) and issues EIC codes to market participants.

Product overview

HOPS (Hrvatski operator prijenosnog sustava d.d.) operates as Croatia's independent electricity transmission system operator. The company's portfolio consists of core transmission infrastructure services combined with market facilitation platforms. The primary offerings include electricity transmission through the national high-voltage grid (110-400 kV), system operation services (frequency and voltage control), and the Platform for Balancing for automated procurement of balancing reserves. HOPS also provides grid connection services, cross-border transmission, and participates in European market coupling mechanisms (SDAC, SIDC, Core Flow-Based Market Coupling). The company manages network development planning through ten-year development plans and issues EIC codes for market participants.

Differentiator

Problem solved

Functional benefit

Products and services

• Electricity Transmission Services Transmission of electricity through the Croatian high-voltage grid (110 kV, 220 kV, 400 kV), including operation and maintenance of approximately 9,300 km of transmission lines and transformer stations. Provided to generators, distribution system operators, electricity suppliers, and major industrial consumers connected to the transmission network.
• System Services (Usluge sustava) Management and operation of the Croatian electric power system including frequency control, voltage maintenance, and system restoration services. Essential for maintaining grid stability and security of supply.
• Platform for Balancing (Platforma za uravnoteženje) IT system for automated procurement of aFRR and mFRR balancing reserve capacity and energy through digitalized daily auctions, enabling flexible participation from balancing service providers including renewable energy units, battery storage, and other flexible resources. Replaces legacy manual balancing procedures.
• Transmission Grid Connection Services Connection of new users to the transmission network, including special connection zones (Posebna zona) reserved for renewable energy projects such as solar power plants. Provided to generators and major electricity consumers.
• Cross-Border Transmission Services Interzonal transmission services enabling cross-border electricity trade within the European market through platforms such as SDAC (Single Day-Ahead Coupling), SIDC (Single Intraday Coupling), and Core FB MC. Provided to electricity traders operating across six neighboring transmission systems.
• Balance Services (Usluge uravnoteženja) Market-based procurement of balancing energy and reserve capacity from balancing service providers to maintain real-time system equilibrium between electricity supply and demand on the Croatian power grid.
• Electricity Market Participation Coordination of Croatian electricity market participation including EIC code issuance to market participants and connection to European market platforms (SDAC, SIDC). Required for market entry and participation compliance.
• Network Development Planning Ten-year development plan for the Croatian transmission network including infrastructure investments and renewable energy integration. Provided as a regulated planning service covering long-term grid development strategy.
• Procurement Services Public procurement of goods and services in compliance with Article 99 of the Croatian Energy Market Act (ZoTEE), including IT systems, physical space, and security access services, conducted under unbundling requirements.

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered minor and core.

• BIOM (Bird Protection Association)minorStrategic or Co-development Partner · 16 April 2021Environmental protection collaboration for conservation of the Lesser Grey Shrike (Bjelonokta vjetruša) on Rab Island through nesting box installation on HOPS infrastructure
• JAO (Joint Allocation Office)coreTechnology or Integration · 1 April 2021European platform for coordinated transmission capacity allocation across Core CCR region implementing Flow-Based capacity calculation methodology
• CEKOM - Center of Competence for Cyber Security of Control SystemsminorStrategic or Co-development Partner · 1 July 2020EU funded research project (17.5 million HRK EU support) on cyber security of control systems with HOPS, CS Computer Systems, CARNet, and FER
• SiemenscoreImplementation/ SI/ Consulting Partner · 25 November 2019SVC (Static Var Compensator) installation contract valued at 104.9 million HRK for voltage control in southern Croatian transmission network under SINCRO.GRID project
• KONČAR - Inženjering za energetiku i transport d.d.coreStrategic or Co-development Partner · 25 November 2019SINCRO.GRID process technical solution partnership for advanced grid management technology implementation
• Faculty of Electrical Engineering and Computing (FER), University of ZagrebcoreStrategic or Co-development Partner · 1 November 2019Research and education partnership covering SINCRO.GRID, CROSSBOW projects and broader collaboration on power system research
• Med-TSOminorStrategic or Co-development Partner · 12 April 2018Association of Mediterranean TSOs (18 member operators) for technical cooperation and best practice sharing in the Mediterranean region
• CROSSBOW Project ConsortiumcoreStrategic or Co-development Partner · 1 November 2017EU Horizon 2020 project (17.2 million EUR total, 550,812 EUR for HOPS) for cross-border renewable energy integration and storage management with 24 partners from 13 countries
• ELES (Slovenian TSO)coreStrategic or Co-development Partner · 29 June 2017SINCRO.GRID project partnership for cross-border grid optimization between Croatia and Slovenia, including virtual control center development and reactive power compensation devices
• SODO (Slovenian DSO)coreStrategic or Co-development Partner · 29 June 2017SINCRO.GRID project partnership for integrated grid optimization between Croatian and Slovenian transmission and distribution systems
• HEP ODS (HEP Distribution System Operator)coreStrategic or Co-development Partner · 29 June 2017SINCRO.GRID partnership for coordinated development and operation of Croatian transmission and distribution networks
• Renewables Grid Initiative (RGI)minorStrategic or Co-development Partner · 22 February 2017European sustainability initiative promoting cooperation between NGOs and TSOs for grid development compatible with environmental protection
• ENTSO-EcoreStrategic or Co-development Partner · 1 January 2017European Network of Transmission System Operators for Electricity - HOPS participates in European TSO coordination, market coupling initiatives, capacity calculation methodologies, and grid development planning as part of the Continental Europe regional group
• CROPEX (Croatian Power Exchange)coreStrategic or Co-development Partner · 1 January 2017Market coupling partnership for day-ahead and intraday electricity market operations including Croatian-Slovenian market coupling

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• 50Hertz (German TSO): 50Hertz operates the transmission grid in northeastern Germany. Broad incumbent peer as another ENTSO-E TSO participating in Core CCR Flow-Based Market Coupling, sharing regulatory and operational frameworks relevant to HOPS.
• TenneT (Dutch/German TSO): TenneT is one of Europe's largest TSOs operating across the Netherlands and Germany. Broad incumbent peer serving as a comparable reference for European TSO scale, operations, market coupling, and offshore grid development that HOPS aspires to benchmark against.

Direct peers

• MAVIR (Hungarian TSO): MAVIR operates the Hungarian high-voltage transmission grid. Direct peer as another Central European TSO participating in the same ENTSO-E regional group and cross-border capacity allocation mechanisms with Croatia.
• NOSBiH (Bosnian TSO): NOSBiH is the independent system operator of Bosnia and Herzegovina. Direct peer as a neighboring Balkan TSO interconnected with the Croatian grid and coordinated via the same ENTSO-E SEE regional processes.
• CGES (Montenegrin TSO): CGES operates the Montenegrin transmission system. Direct peer as a small-market Balkan TSO interconnected with Croatia via submarine interconnection projects (Declaration on Submarine Networks signed by HOPS board member).
• ELES (Slovenian TSO): ELES is the electricity transmission system operator of Slovenia. Direct peer as a neighboring national TSO operating under the same EU regulatory framework, partnering with HOPS on the SINCRO.GRID cross-border optimization project and sharing Common Core CCR capacity calculation.
• EMS (Serbian TSO): EMS is the transmission system operator of Serbia. Direct peer as a neighboring Balkan TSO participating in the same SEE regional ENTSO-E coordination and balancing market initiatives.

Others

• JAO (Joint Allocation Office): JAO is the European platform for coordinated transmission capacity allocation across the Core CCR region. Adjacent infrastructure peer — HOPS uses JAO for long-term cross-border capacity auctions and Flow-Based implementation support.
• ENTSO-E: European Network of Transmission System Operators for Electricity. Industry association representing all EU TSOs; HOPS is a member and active participant in its market coupling, capacity calculation, and grid development planning initiatives.
• HEP ODS: HEP ODS is the Croatian distribution system operator, part of the broader HEP Group. Adjacent peer — distribution-level grid operator directly interconnected with HOPS's transmission network, and named SINCRO.GRID partner for coordinated TSO-DSO optimization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about HOPS