Vopak Invests €230 Million in Battery Storage in the Netherlands
Royal Vopak has finalized the acquisition of a majority stake in Green Energy Storage (GES) and made a definitive investment decision for a 200 MW / 800 MWh battery energy storage project in Oosterhout, Netherlands. The total investment by the group amounts to approximately €230 million.
Finalized Acquisition and Investment Decision for Oosterhout
Vopak acquires a 79% majority stake in GES, with the option to acquire the remaining 21% within two years following the closing. This transaction, initially announced on May 7, 2026, marks the transition from intent to implementation of a diversification strategy towards energy transition infrastructure. The flagship Oosterhout project will have a capacity of 200 MW / 800 MWh, equivalent to 4 hours of autonomy, and will be among the largest battery storage projects currently under development in the Netherlands. The site will be connected to the high-voltage network and designed to contribute to the balance of the Dutch electrical grid and to the reduction of congestion. Greenchoice will purchase 50% of the capacity based on an 8-year tolling agreement. Construction work will begin soon, with commercial operations expected to start in the first half of 2028. From July 1, 2026, GES will be fully consolidated in Vopak's financial accounts.
Strategic Positioning and Commercial Benefits
This acquisition is part of the group's disciplined approach to capital allocation. It combines stable contractual revenues (via the Greenchoice agreement) with exposure to market potential as electricity demand grows and renewable energy production increases. Through GES, Vopak acquires a proven development platform, an ongoing project portfolio, and an asset management platform. The group's experience in infrastructure, financial strength, and commercial capabilities complement these assets to build a strong position in battery storage. According to Maarten Smeets, Executive Vice President Global Commercial Development at Vopak, this operation will enable the building of 'one of the first battery storage platforms in the Netherlands'.
