Singapore-based Global Energy Storage Group (GES) has completed the sale of its terminal located in the Port of Rotterdam. The facility includes 212,000 m³ of tank storage and approximately 18 hectares of development land in the Europoort area.
The buyer, Tepsa, is a European bulk liquid and gas storage operator, according to a statement issued by GES on July 9.
This sale marks a significant step for GES as it continues to focus towards expanding in the Asian market, with particular emphasis on its strategic terminal at Port Klang, Malaysia.
The sale of the Rotterdam terminal means GES no longer holds assets in the Netherlands. With the sale, GES is now fully focused on Asia, where demand for bulk liquid storage, including chemicals, biofuels, and new energy products, continues to rise.
“Part of the investment cycle is realising value from assets at the right time, and we’re confident this was the right moment for GES. We are now fully focused on growing our business in Asia, with Port Klang at the centre of that strategy,” said Peter Vucins, chief executive officer of GES, a company which builds a global network of energy storage assets.
As it is reported, GES is backed by investors Bluewater and White Deer. The company didn’t disclose any financial terms of the transaction.
