A turbine (2) driven electric power production system (1),—said turbine (2) arranged for being driven by a fluid (3) having a fluid speed (v) varying in time,—said turbine (2) connected to a hydrostatic displacement pump (6) further connected to a hydrostatic displacement motor (8) as part of a closed loop hydrostatic transmission system (7),—said motor (8) arranged for driving an electrical generator (9) supplying AC power (10) at a frequency (fg) near a given desired frequency (fdes), characterized by a closed loop system arranged for controlling a volumetric displacement (13) of the hydrostatic motor (8), comprising—a fluid speed meter (11m) arranged for producing a speed signal (11s) representing a speed (v) of said fluid (3), and—a rotational speed meter (12m) arranged for providing a rotational speed signal (12s) representing a rotational speed measurement (ω) of said turbine (2), —a motor displacement control system (15) for continuously receiving said speed signal (11s) and said rotational speed signal (12s) and arranged for calculating a control signal (16), —a volumetric displacement control actuator (17) on said hydrostatic motor, arranged for receiving said control signal (16) for continuously adjusting a volumetric displacement (d) of said hydrostatic motor (8) for maintaining a set turbine tip speed ratio (tsrset) and thereby providing an improved power efficiency of the power production system (1) during fluctuations in said fluid speed (v).