Return, an Amsterdam-based company, is making significant strides in the renewable energy sector. The energy transition platform has announced an acquisition of a majority stake in Hamburg’s J&P Batterie Projekte with a €50 million investment. This move represents a strategic expansion of Return’s influence in Germany, especially focusing on renewable energy advancements. The acquisition aims to tackle energy storage challenges, a critical part of the European Net Zero Emissions by 2050 target. With this acquisition, Return plans not only to broaden its market presence but also to enhance its portfolio in energy storage solutions.
Last year, Return secured a €100 million investment round to back renewable projects, underlining its commitment to energy transition. Meanwhile, the partnership with J&P aligns with Return’s previous endeavors like establishing Sunrock and partnering with Vandebron, reflecting a consistent focus on expanding its renewable energy capabilities. This acquisition further strengthens Return’s strategy in Europe, adding to its ongoing efforts to lead in battery energy storage systems.
What challenges does the acquisition address?
The alliance between Return and J&P addresses the significant storage bottleneck in renewable energy. As storage solutions remain vital for achieving sustainability goals, this partnership will develop, finance, and operate extensive energy storage projects. Return currently manages 70 MW (150 MWh) of operational assets and 450 MW (1,700 MWh) of Ready-to-Build projects. The joint effort with J&P will enhance their capabilities, providing the necessary infrastructure to meet the growing energy demands in Europe.
Could this partnership transform the energy landscape?
Yes, the collaboration is poised to impact the energy landscape significantly. By merging resources and expertise, Return and J&P aim to become pivotal players for high-voltage grid operators seeking flexibility enhancements. J&P’s experience, combined with Return’s strategic position through platforms like SemperPower in Munich, which has over 3 Gigawatts of advanced projects under development in Germany, offers a promising outlook for energy storage advancements.
Jens Peters and Philipp Jebens, the founders of J&P, have positioned the company well for this partnership, with a pipeline of over 4 Gigawatts of storage projects. According to Philipp Jebens,
“We strongly believe in the critical need for flexibility in Germany’s energy landscape and began our developments several years ago. This new investment and our collaboration with Return put us in a unique position to become a key partner for high-voltage grid operators and parties seeking to enhance flexibility in their portfolios.”
Return’s strategic move reflects a broader trend of collaboration and investment within the energy sector. The acquisition aligns with the company’s mission to be a leading flexibility provider in Europe. Willem-Jan Schutte, CEO of Return, expressed his enthusiasm, stating,
“This investment represents a significant step forward in our mission to become the leading flexibility provider in Europe. We are proud and happy to share that we have started this exciting cooperation with J&P.”
The acquisition of J&P by Return is a pivotal step in addressing the energy storage bottleneck, essential for achieving Europe’s net zero targets by 2050. By combining their expertise and resources, Return and J&P are poised to drive substantial advancements in energy storage across Europe. This collaboration not only highlights the importance of strategic partnerships in the renewable energy sector but also underscores the need for continued investment in innovative storage solutions. The ongoing commitment of companies like Return to invest in such projects demonstrates the growing momentum behind the energy transition and its significant role in shaping a sustainable future.
