GES wraps up Port of Rotterdam investment with Gunvor

GES wraps up Port of Rotterdam investment with Gunvor

Sustainable energy

The Netherlands – Global Energy Storage (GES) has completed the deal to buy a part of the Stargate Terminal from the Gunvor Group in the Port of Rotterdam.

In November 2021, Gunvor agreed to sell GES a portion of the Stargate Terminal’s assets. The Port of Rotterdam Authority has ratified the agreement. An extensive waterfront, brownfield development possibilities, and greenfield development sites are all included in the property.

Energy transition

Since then, GES has acquired four Class 1 product tanks with a combined capacity of more than 212,000 cubic meters, all of which are supplied by Gunvor on a long-term basis. There is an additional 20-hectare parcel of land that GES has acquired the right to develop. It is also pursuing projects to support the energy transition, including ammonia import facilities, biofuel and feedstock storage, chemicals, gases, and the conversion of waste to fuel.

Peter Vucins, CEO of GES, commented: “The location of this first investment in the heart of the Port of Rotterdam positions us perfectly to significantly contribute to our client’s needs to develop the new storage and logistics infrastructure to facilitate the Energy Transition which is upon us and accelerating.”