Dutch tank storage major Royal Vopak has closed its acquisition of a majority stake in Netherlands battery developer Green Energy Storage (GES) and taken a final investment decision (FID) on a 200 MW / 800 MWh grid-scale battery energy storage project in Oosterhout. The combined investment totals around EUR 230 million.
What was announced
As of July 1, 2026 Vopak holds a 79% controlling stake in GES and has agreed terms to buy the remaining 21% within two years. GES will be fully consolidated on Vopak's books from July 1 onwards. The transaction follows an agreement in principle announced on May 7. Vopak trades on Euronext Amsterdam under ticker VPK.
The Oosterhout project
The Oosterhout battery, with a four-hour duration, is among the largest BESS projects currently under development in the Netherlands. It is connected to the Dutch high-voltage grid and designed to reduce grid congestion. Dutch energy retailer Greenchoice will offtake 50% of the capacity under an eight-year tolling agreement, with commercial operations expected in the first half of 2028.
A pivot into energy-transition infrastructure
Vopak's Executive Vice President Global Business Development Maarten Smeets said the deal "moves us from intention to delivery" on the company's energy-transition strategy. Through GES, Vopak inherits a proven development platform, a project pipeline and an asset management team - assets it plans to scale using its own infrastructure, financing and commercial capabilities.
Netherlands battery market context
The deal comes as Dutch grid congestion drives a wave of BESS FIDs. Netherlands utilities and independent power producers are racing to add storage capacity to unlock renewable projects, and the sector is following National Grid's $1.75B backing of Joulent as one of the largest recent energy transition transactions in Europe.
What GES CEO said
GES CEO Guus Bengsch said Vopak's involvement will let the company "realize the 200 MW / 800 MWh while accelerating the development of the rest of our pipeline," while Greenchoice CEO Erik van Engelen called the project "an essential building block of tomorrow's energy system."
Reporting based on coverage from GlobeNewswire, Power Technology and Storage Terminals Magazine.