Pvt. equity firm Bluewater launches Global Energy Storage Co.

Private equity firm specializing in energy transition, Bluewater, has launched Global Energy Storage (GES), a new company that focuses on developing energy storage assets in key geographies for facilitating energy transition.

The company is expected to invest $250 million with the backing from Bluewater.

GES has been set up by the management team from Global Petro Storage (GPS), a global petro storage and logistics company, stated an official release by Bluewater.

The management team will continue to work across both GPS and GES. GES will focus on key global hubs and growth locations, international cross-linking business, and long-term relationships with top-tier energy suppliers. Its focus will be on low carbon and energy transition fuels and related infrastructure and logistics services.

"We have a proven ability to execute both greenfield and brownfield projects. We see growth areas in the storage and logistics for LNG, LPG, hydrogen, ammonia, and renewable fuels," said Peter Vucins, CEO, GPS.

"We are developing an exciting pipeline of projects in Southeast Asia, Latin America, and elsewhere across the globe. We anticipate announcing our first deal very soon. It's an exciting time for GES and we look forward to making further announcements soon about the expansion of the business," Vucins added.

Bluewater hopes GES will be able to target new markets and opportunities which will help deliver new storage technology and products necessary for energy transition globally.