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 project in Oosterhout, 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 7th 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 percent 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.
“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.” said Guus Bengsch, CEO GES.
“Battery energy storage 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.” said Erik van Engelen, CEO of Greenchoice.
As of 1st July 2026, Vopak holds a 79 percent controlling stake in GES and has agreed terms to acquire the remaining 21 percent of the shares within two years after closing. Therefore, GES will be fully consolidated on Vopak’s financial accounts from 1st July 2026 onwards.
For more information visit www.vopak.com
