Royal Vopak has reached an agreement in principle with Green Energy Storage (GES) for the acquisition of a majority stake in GES. The transaction marks a strategic step to accelerate the development of large-scale battery energy storage systems (BESS) in the Netherlands, combining Vopak’s infrastructure expertise with GES’s leading position in battery storage development.
GES is a Dutch BESS developer based in Breda and has built a strong position in the Dutch energy market through the development of large-scale storage projects. The company manages the full project lifecycle, from site identification and permitting, construction and operational management, and plays an active role in addressing grid congestion and enabling flexibility in the energy system.
As part of the proposed transaction, Vopak will acquire a majority equity stake in GES and support the further development of GES’s project pipeline, including the landmark utility-scale battery storage project in Oosterhout (200 MW / 800 MWh). This project has been developed by GES and is designed to play a key role in balancing the Dutch electricity grid and mitigating congestion.
‘Entering the energy transition infrastructure space through battery storage is a logical next step for Vopak. GES brings deep expertise and a strong project pipeline, and together with Vopak’s existing pipeline we are well positioned to accelerate the development of large-scale storage solutions that support a reliable and sustainable energy system,’ says Maarten Smeets, executive vice president Global Business Development at Vopak.
‘This partnership enables us to significantly accelerate the realization of our project pipeline,’ adds Guus Bengsch, CEO GES. ‘We have developed a strong position in the Dutch battery storage market, and with Vopak’s infrastructure and financial strength, we can scale faster and contribute more effectively to solving grid congestion and supporting the energy transition.’
The transaction is subject to Final Investment Decision (FID) and customary conditions and approvals. Vopak will disclose its investment amount upon closing of the transaction and positive FID.
