Post by Vopak

Vopak completes acquisition of majority stake in Green Energy Storage (GES) and takes final investment decision on 200 MW/ 800 MWh battery storage project in the Netherlands Vopak’s total investment in the GES acquisition and the 200 MW / 800 MWh project amounts to around EUR 230 million. The transaction follows the agreement in principle announced on 7 May 2026. This investment is part of Vopak’s strategy to invest in energy transition infrastructure, in line with its disciplined approach to capital allocation and return requirements of the portfolio. Commercially, it combines stable contracted revenues alongside exposure to market upside. As electricity demand continues to grow and renewable energy generation increases, battery energy storage plays a critical role in delivering reliable electricity while balancing the electricity grid, increasing system flexibility and reducing grid congestion. Through GES, Vopak acquires a proven development platform, a pipeline of projects, and an asset management platform. Vopak's infrastructure experience, financial strength and commercial capabilities complement these to build a strong battery storage position across the portfolio. The Oosterhout project has a capacity of 200 MW / 800 MWh (4 hours) and is among the largest battery energy storage projects currently under development in the Netherlands.  Connected to the high voltage grid, the project is designed to help balance the Dutch electricity grid and reduce grid congestion. Greenchoice will be the offtaker for 50% of the capacity based on an 8 year tolling agreement.  Construction will start shortly and the commercial operations are expected to start in the first half of 2028. “Completing this acquisition and taking the investment decision on the Oosterhout project moves us 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 and sustainable energy system.” said Maarten Smeets, Executive Vice President Global Business Development at Vopak. We help the world flow forward #EnergySecurity #EnergyTransition #battery-energy-storage-systems #BESS