Best of 2018

VEO Expert Services entering Norway

In September 2018, VEO’s Expert Services expanded its operations to Norway by signing a 7-year maintenance agreement with Norsk Vind Egersund AS. The agreement concerns a substation at a 112 MW wind farm with 33 wind turbines in the south of Norway. The tailored agreement covers both critical and non-critical maintenance operations, including the proactive maintenance and periodic testing of all electrification and automation equipment.

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Increase in sectional drive deliveries

In 2018 customers became even more interested in VEO’s sectional drives and process know-how, which meant more project deliveries for VEO in the sector across Finland. One of the year’s biggest projects was the Raina 2 power transmission line electrification and automation system delivered to Europe’s leading special steels manufacturer SSAB. The complete project included sectional drive switchgear, bus duct systems and power plant, as well as design, automation and introduction work. Thanks to such projects and the year’s brisk market, the total number of VEO’s sectional drive project deliveries tripled from 2017.

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VEO’s historical launch – Vector started a new era of medium-voltage switchgear

The focus of Vector’s design is concentrated on five main areas: safety, quick installation, tested reliability, standardised quality and environmental friendliness.

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30 years of cooperation

VEO has delivered dozens of substation and hydropower projects to Savon Voima Verkko since the start of VEO’s history. The power grid renewal project in Iisalmi, where VEO delivered two new substations and modernised an existing one, is one of the highlights. One of the new substations, delivered in the summer of 2018, is based on increasingly popular gas-insulated switchgear (GIS) technology and is an important node in the Iisalmi power distribution network.

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MISSION STATEMENT

In 2018, our turnover rose to an impressive €103 million, and the number of orders increased more than ever before.

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CEO’s review

With a forward-thinking strategy and open communication, we will be able to continue our successful growth as a company.

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Finland

With the growth targets set for 2023 in mind, VEO has concentrated on signing deals for larger and longer projects in all areas of operation.

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Sweden 

The Swedish market is a very important part of VEO’s growth strategy. Grankull sees good opportunities in doubling the turnover within the next few years.

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Norway

We have worked hard to build our network, and it is paying off. Developers and investors invite us to be part of their projects already at the feasibility phase.

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United-Kingdom

We have been working with VEO since 2008. Our shared history, along with very good communication before, during and after the merger, has made this a smooth transition for all of us.

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