Royal Vopak has completed the acquisition of a majority stake in Green Energy Storage (GES) and has taken a final investment decision (FID) on the 200 MW/800 MWh battery energy storage (BESS) project in Oosterhout, the Netherlands.

Vopak’s total investment in the GES acquisition and the 200 MW/800 MWh project amounts to around €230 million. The transaction follows the agreement in principle announced in 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, BESS 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 BESS 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 off-taker 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 1H28.

Maarten Smeets, Executive Vice President Global Business Development at Vopak, commented: “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.”

Guus Bengsch, CEO GES, added: “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 200 MW/800 MWh 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.”

Erik van Engelen, CEO of Greenchoice, concluded: “BESS is becoming an essential building block of tomorrow’s energy system. We are proud to continue our collaboration with GES and Vopak. This project marks an important milestone and enables us to contribute to greater flexibility in the Dutch electricity system while helping reduce grid congestion.”

As of 1 July 2026, Vopak holds a 79% controlling stake in GES and has agreed terms to acquire the remaining 21% of the shares within two years after closing. Therefore, GES will be fully consolidated on Vopak’s financial accounts from 1 July 2026 onwards.