Dutch tank storage company Vopak has reached an agreement in principle to acquire a majority stake in Dutch battery energy storage developer Green Energy Storage (GES).
The transaction is aimed at accelerating the development of large-scale battery energy storage systems (BESS) in the Netherlands by combining Vopak’s infrastructure expertise with GES’s battery storage project pipeline.
Breda-based GES develops and operates utility-scale battery storage projects and manages the full project lifecycle, including permitting, construction and operations.
As part of the proposed deal, Vopak will support the development of GES’s pipeline, including a planned 200 MW / 800 MWh battery storage project in Oosterhout designed to help balance the Dutch electricity grid and reduce congestion.
“Entering the energy transition infrastructure space through battery storage is a logical next step for Vopak,” said Maarten Smeets, Executive Vice President Global Business Development at Vopak.
GES CEO Guus Bengsch said the partnership would help accelerate the company’s project pipeline and strengthen efforts to address grid congestion in the Netherlands.
The transaction remains subject to a final investment decision and customary approvals. Vopak said it will disclose the investment amount after completion of the transaction.
