Global Energy Storage (GES) has made its first major investment by buying an interest in part of the assets of Gunvor Group’s Stargate Terminal in the Port of Rotterdam, in the Netherlands. The deal has been approved by the Port of Rotterdam Authority.
The site includes a ‘significant’ waterfont with deepwater access, brownfield development opportunities and potential greenfield development sites.
GES launched in May 2021 to focus on products for the energy transition. It now plans to develop more than 20 hectares in the port. Its proposals include a new multi-purpose seagoing jetty, an infrastructure for the consolidation of biofuel storage, storage for renewable fuels, gas storage, gas to chemicals production, green and blue hydrogen, and hydrogen carriers such as ammonia.
GES CEO Peter Vucins said that the Port of Rotterdam is ‘ideally placed’ for the development. Executive chairman Eric Arnold added that the deal is the first of what the company hopes will be many deals for low-carbon storage and logistics infrastructure, with rapid expansion planned.
Gunvor will be a long-term partner of GES to support the development of environmentally responsible projects. Shahb Richyal, global head of portfolio at Gunvor, said the deal is in line with Gunvor’s strategy to support the energy transition at key asset locations.
Vucins said: “This project aims to become one of the largest low-carbon developments at a world class industrial hub, with the potential to significantly reduce the carbon footprint of future business in the Port of Rotterdam. Alongside a new jetty that we aim to develop and low-carbon commodity infrastructure, we are also looking to become part of the logistics chain needed to import blue and green hydrogen. I hope this gives a glimpse of the size of our ambitions.”
For more information visit www.global-energy-storage.com
