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Vopak to Invest EUR230 Million in Dutch Battery Energy Storage Project

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Koninklijke Vopak (VPK.AS) agreed to invest 230 million euros to acquire a majority stake in Green Energy Storage and develop a battery energy storage project in Oosterhout, the Netherlands.

The final investment decision on the 200-megawatt project follows the signing of an agreement in principle on May 7, according to a Thursday release.

The Dutch tank storage company said work will commence shortly, with commercial operations expected to begin in the first half of 2028. Greenchoice has agreed to offtake 50% of the project's capacity through an eight-year tolling agreement.

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