Global Energy Storage (GES), a developer of energy storage assets launched in May this year, has announced its first major investment at Europoort in the Port of Rotterdam.
GES is buying an interest in part of the assets of the Stargate Terminal from Gunvor Group and will develop more than 200,000M² at the heart of the port. The deal has been formally approved by the Port of Rotterdam Authority.
The site includes a significant waterfront with deep water access, brownfield development opportunities and potential greenfield development sites, according to a statement.
GES’ plans include the development of a new multi-purpose seagoing jetty, as well as developing infrastructure for:
- Consolidation of biofuel storage
- Storage for renewable fuels
- Gas storage
- Gas to chemicals production
- Green and blue hydrogen
- Hydrogen carriers such as ammonia
Peter Vucins, CEO of GES, commented, "This project aims to become one of the largest low-carbon developments at a world-class industrial hub, with the potential to significantly reduce the carbon footprint of future business in the Port of Rotterdam. Alongside a new jetty that we aim to develop and low-carbon commodity infrastructure, we are also looking to become part of the logistics chain needed to import blue and green hydrogen."
Vucins added that the port is ideally placed for this development. He believes that it will "bring low-carbon technology to one of the world’s great trading hubs that have taken a leading position in the energy transition with very significant and ambitious developments of its own."
Gunvor, a multinational commodity trading company registered in Cyprus, will be a long-term partner of GES at the Port of Rotterdam.
"We’re pleased to be partnering with GES to further support the development of environmentally responsible projects in the port of Rotterdam," noted Shahb Richyal, Global Head of Portfolio at Gunvor Group. "This deal is in line with Gunvor’s strategy to support the advancement of Energy Transition initiatives at our key asset locations."
Gunvor also recently announced that its Rotterdam facility will supply to Dow cracker-ready feedstock, which will be used to produce circular plastics.
GES has a focus on energy transition fuels and fuels-of-the-future. Its strategy is to concentrate on key global hubs, international cross-linked business, and long-term relationships with top-tier energy suppliers, according to a statement.
"We are looking to develop an international network of storage and logistics infrastructure for low-carbon commodities. You can expect to see a rapid expansion across 2021-22," stated Eric Arnold, Executive Chairman of GES.
