The energy crisis has passed, electricity prices have returned to normal, and now Europe is once again focusing on its goals to cut greenhouse gas emissions by at least 55 percent by 2030 and become fully carbon neutral by 2050.
The green transition is complex, multifaceted, and involves making technological advancements, changing societal values, and creating political will. But Jukka Ruusunen, President and CEO of Fingrid, and a member of Ensto’s Board of Directors, simplifies things: "From Ensto's point of view, it's all about electrification. It's the cleaning of industry, heating, and traffic – removing emissions from those. We electrify societies all over the world and help them use clean, cheap, and reliable electricity.”
Profitable Growth
With consumers requiring more and cleaner energy, huge investments are being made by both private enterprises and governments. With so much money in the market at the moment, growth isn’t the most difficult challenge — but profitable growth is.
"There's always a risk if governments push too much money into the market in the form of subsidies," says Ruusunen. "I'm a market economy person. Too much money pushed into the market can create imbalances and make companies lazy." Ruusunen says that to lead the way to a cleaner world, Ensto must offer products customers want, yet remain profitable during growth. “Ensto is in a great position to grow, but managing that growth is never easy.”
Ruusunen says the market needs the innovative ideas that Ensto can provide when it comes to the distribution of electricity, in an era when reliability is more important than ever. “Ensto needs to continue in this brave way to use intelligent technology in distribution, concentrating on its core competences and moving ahead with smart devices. There’s a huge demand for Ensto solutions all over the world. Reliable electricity will be even more important when we electrify societies, and Ensto can play a big role in helping distribution companies here.”
With demand so robust, business can sound as easy as picking money up off the ground. But for intelligent growth and profitability, Ruusunen says, Ensto will have to pick its niches carefully. “Ensto isn’t a huge player, but we can be a challenger to big global companies if we pick our niches right.”
Recognized Globally
So how can Ensto fulfil its mission to become a leading expert for distribution system operators? In many ways, it already has. It has prioritized, made strategic investments, and is establishing leadership positions in new market segments.
“It’s critical to make your own definition of what being a leading expert means,” says Ruusunen. “Ensto’s current portfolio is very good, but if the portfolio gets spread too thin then we can’t lead. A small company with a large portfolio is never the leader.”
Ruusunen’s counsel as a board member: “Know where you’re good. Build your reputation on that, and you’ll be recognized globally.”
Jukka Ruusunen has announced that he will retire from Fingrid on December 31st, 2023. He's been Fingrid's President & CEO for 16 years. We’re pleased to say he will continue to serve on Ensto's board.