A power electronic apparatus with cooling arrangement comprises a housing (1) that accommodates the power electronic components (5). At least two adjacent axial fans (4) are connected to the housing (1) for inducing an airflow from outside into the housing (1) in order to cool the power electronic components (5). Furthermore, at least one pair of said adjacent fans (4) is disposed at an angle α with respect to each other in order to reduce noise caused by the fans. Such a cooling arrangement provides a power electronic apparatus with effective cooling in compact size and also having an acceptable level of noise.