en.Wedoany.com Reported - Royal Vopak has completed the acquisition of a 79% controlling stake in battery energy storage developer Green Energy Storage (GES) and approved the launch of a 200MW/800MWh battery energy storage system (BESS) project in Oosterhout.
The total investment for the acquisition and the new energy storage project is approximately €230 million ($263 million), based on the agreement in principle disclosed in May 2026.
The BESS facility is expected to begin construction soon and is designed to connect to the Dutch high-voltage grid. Half of its capacity will be supplied to Greenchoice under an eight-year transmission rights contract.
The project is considered one of the largest BESS projects currently under construction in the Netherlands, with commercial operations expected to commence in the first half of 2028.
Vopak stated that this move aligns with its strategy to invest in energy transition infrastructure and follows strict capital allocation and portfolio return requirements. The acquisition and project aim to generate contracted revenue while maintaining market exposure.
Through the acquisition of GES, Vopak gains access to a mature project development platform, existing and potential projects, and an asset management framework.
Maarten Smeets, Executive Vice President of Global Business Development at Vopak, said: "Completing this acquisition and making the investment decision for the Oosterhout project allows us to move from intention to delivery. Together with the GES team, we are building one of the leading battery storage platforms in the Netherlands and supporting a reliable, sustainable energy system."
Guus Bengsch, CEO of GES, said: "Today's milestone reflects the efforts of the GES team over the years in building a high-quality battery storage platform. With Vopak, we can now not only realize the 200MW/800MWh project but also accelerate the development of the remaining pipeline. Together, we are creating the flexibility needed for the security, reliability, and resilience of the Dutch power system."
Vopak has also agreed to acquire the remaining 21% stake in GES within two years of the transaction's completion.
