Royal Vopak, a company that owns and operates infrastructure for the storage and handling of liquids and gases, has acquired a 79% stake in Green Energy Storage (GES) and taken a final investment decision for a 200 MW/800 MWh battery energy storage project in Oosterhout, the Netherlands.

Green Energy Storage is a Dutch developer, owner, and operator of utility-scale battery energy storage systems (BESS). The company manages the entire project lifecycle from site identification and permitting to financing, realization, and operational management.

The company said its total investment in the acquisition and the battery storage project is approximately €230 million (~$262 million).

Vopak holds a 79% stake in GES and has agreed to acquire the remaining 21% within two years of the transaction closing. GES will be fully consolidated into Vopak’s financial accounts from July 1, 2026.

“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.

Vopak said Greenchoice has signed an eight-year tolling agreement to serve as the offtaker for 50% of the project’s capacity. Construction is expected to begin shortly, with commercial operations scheduled to start in the first half of 2028.

According to Mercom’s Q1 2026 Funding and M&A for Energy Storage report, corporate M&A activity increased, with seven companies acquired in the first quarter of 2026 compared to only one in Q1 2025.

In 2026, ICG, the global alternative asset manager, announced that its Asia-Pacific Infrastructure team has acquired a majority stake in Ray8 Energy, a Japan-based developer, owner, and operator of BESS projects. The company also leads equity and debt capital raising for project special purpose vehicles and oversees ongoing asset monitoring and performance management in collaboration with third-party BESS operators.