Vopak has concluded the acquisition of a 79% controlling stake in Green Energy Storage (GES), a Dutch developer of battery energy storage systems (BESS), and authorised the commencement of a 200MW/800MW-hour (MWh) BESS project in Oosterhout.
The combined investment for the acquisition of GES and the new storage development is approximately €230m ($263m), following an agreement in principle disclosed in May 2026.
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The BESS facility, which is scheduled to begin construction shortly, is designed to connect to the high-voltage Dutch grid. Half of its capacity will be supplied to Greenchoice under an eight-year tolling contract.
It is regarded as one of the largest BESS developments currently in progress in the Netherlands, with commercial operations expected to commence in the first half of 2028.
Vopak described the move as consistent with its strategy to invest in energy transition infrastructure, citing its approach to disciplined capital allocation and portfolio return requirements.
The acquisition and project are intended to provide contracted revenue while also allowing for market exposure.
Through the purchase of GES, Vopak gains access to an established platform for project development, existing and potential projects, as well as an asset management structure.
Vopak Global Business Development executive vice-president Maarten Smeets said: “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.”
GES CEO Guus Bengsch said: “Today’s milestone reflects years of work by the GES team in developing a high-quality battery storage platform.
“With Vopak, we can now realise the 200MW/800MWh while accelerating the development of the rest of our pipeline. Together, we are creating the flexibility needed for a secure, reliable and resilient Dutch electricity system.”
Vopak has also agreed terms to acquire the remaining 21% of GES shares within two years following the close of the transaction.
