How we create growth and navigate challenges in a future industry
TURAB will be 60 years old in 2025. But what awaits this anniversary year? We can conclude that TURAB operates in an industry that is full of challenges – but which also has enormous potential. This is what we have set our sights on in 2025!
TURAB can look back on an eventful 2024, says CEO Åse Esselius:
“We delivered several turnkey projects with modernized hydropower plants that have higher capacity and energy efficiency. We also built a stronger team internally. Based on our values of commitment, innovation and reliability, we now continue to develop our team with a focus on collaboration and innovative power. Together with our owner IDUN, we also designed a multi-year strategic plan that includes business development and expansion of the customer base.”
How we meet the challenges
So, what happens now? TURAB, with its expertise in the design, manufacture and maintenance of water turbines, is in many ways highly relevant in times when sustainable energy production is in focus.
“At the same time, we operate in a politically controlled market that is still affected by the NAP pause (the national plan for the review of hydropower) and uncertainty over volatile electricity prices. We know that TURAB’s expertise is very valuable and in the future. That is why we are focusing on three strategic areas,” says Åse Esselius.
Recruitment of specialist skills: Attracting engineers with deep technical knowledge in hydraulics and mechanics is a challenge that we are working intensively on. Everyone must be “Zlatan”. Regardless of whether we hire a welder, CNC operator, service technician or project engineer, we want to hire the best available on the labor market.
Streamlining project processes: Many of our projects are complex and span multiple years, placing high demands on our project processes to meet delivery times and earn satisfied customers.
Strengthened customer relationships: With a customer base that ranges from large power companies to smaller private and municipal players, it is crucial to understand different needs and deliver the highest quality for individual customers and projects.
It happens in 2025
It is with confidence that we at TURAB are approaching 2025. The market looks brighter than at the same time last year and we hope that NAP, the national plan, will get off to a good start during the year, which will make customers confident in their development plans. The global uncertainty with political upheavals has also meant that we receive questions about island operation and preparedness more often, an area in which we also have expertise.
“We also hope for a stabilization of the volatile level of electricity prices so that our customers can rely on a long-term profitable investment with us,” says Åse Esselius.
“TURAB has enormous expertise in small-scale hydropower and we want to continue to be a reliable partner for our customers in new investments and renovations or as support for customers who need to call and ask us something. We want to be there with competent answers to most installations.”
In recent years, TURAB has shown that it is possible to make a generational change even in such a complex company as a manufacturer of water turbines.
“Every day we are building a stronger team with committed colleagues who work together towards common goals. With IDUN as a secure owner, we look forward to long-term growth. We are not in a hurry – but we have faith in the future of hydropower and its continued development.”