Diesel and Gas Engine Power Plants

In our business segment, 2016 brought about a boost.

Global investments developed in a positive direction, our turnover increased, and we could all feel the market moving. I would also say that we experienced some growth on a professional level. I especially remember a technically demanding LNG project that marked new territory for our client and us. It was rewarding to enter a new business area and take on a new kind of challenge.

In general, the power generation business has reached a turning point. Conventional power production must now adapt to a new environment consisting of wind power, solar power and energy storage solutions. Anyone who wants to be a part of the changing world must manage these new technologies and systems. At VEO we are very focused on this part. The change is already happening and will be even stronger in the future. We want to be prepared and preferably one step ahead.

Right now, the energy business is dependent on courageous companies.

Johan Ågren

Vice President, Diesel and Gas Engine Plants

Although renewables are becoming a real option, nature will always be a powerful, yet unpredictable energy source. That’s where we come in – I don’t think our solutions are going anywhere for a very long time. Also, I’m very pleased that the entire industry has regained the courage to make significant investments again. Although different economic support models are still creating challenges in some markets, this is a positive wave that we all should ride on. Right now, the energy business is dependent on courageous companies that are ready to embrace new technologies that move us all forward.

So, what’s our next destination? It could be anywhere. Our extensive experience of global teamwork and universal standards keep us in motion. Recently we’ve been supervising power plant commissioning in Japan, Argentina and Florida. Let’s see where our work takes us in 2017 – there are still so many projects just waiting to be integrated by VEO.

MISSION STATEMENT

The company will continue its profitable growth strategy. In the long run, our goal is an annual growth of around 10% and continuous growth in profitability.

Business Segment Insights

CEO’s Review

We need to stay awake and grab opportunities as they arise. VEO must always be ready to take a new direction.

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Industry

The UK has a lot of potential, and I’m very pleased that 2016 opened important doors to this new VEO market

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HR

According to our employee survey, 98 % of the respondents would recommend VEO as a workplace. That means we’ve done things right.

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Substations

New investments are being prioritised instead of repairs and maintenance. My guess is that the investment pace will be high for the following 5 years.

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Wind Power

VEO is known as the guy who isn’t afraid to take on challenges – not because he’s stupid enough to do it, but because he can handle the risks professionally.

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Expert Services

Our customers clearly ask for our advice and want us to be present throughout the entire project – from execution to education and life cycle management.

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