Amsterdam-based Return, an vitality transition platform, introduced on Thursday that it has acquired a majority stake in Hamburg-based J&P Batterie Projekte with a €50M funding and dedication.
The announcement comes because the Dutch firm goals to broaden its renewable vitality market in Germany.
What does this acquisition clear up?
Storage is the bottleneck of the vitality transition and poses a problem for builders and traders when it comes to contributing to the European Web Zero Emissions by 2050 goal.
Collectively, Return and J&P will develop, finance, personal, and function a considerable venture portfolio, leveraging the expertise of Return which at the moment operates 70 MW (150 MWh) of operational belongings and 450 MW (1,700 MWh) of Prepared-to-Construct initiatives.
The brand new partnership will solidify Returns’ place in European vitality storage.
This partnership expands the Dutch firm’ present place in Munich by way of its fully-owned platform SemperPower.
Presently, SemperPower has over 3 Gigawatts of superior initiatives beneath growth in Germany spanning a number of (kinds of) grid operators.
Based by Jens Peters and Philipp Jebens, J&P has a pipeline of over 4 Gigawatt of storage initiatives to speed up vitality storage growth all through Europe.
Philipp Jebens, Managing Director of J&P, says, ”We strongly imagine within the crucial want for flexibility in Germany’s vitality panorama and started our developments a number of years in the past. This new funding and our collaboration with Return put us in a singular place to change into a key associate for high-voltage grid operators and events looking for to reinforce flexibility of their portfolios.”
Return: Vitality transition funding & construct
Return is an vitality transition funding & construct a platform that mixes entrepreneurial builders, with institutional capital, capabilities, and operational experience.
The corporate has efficiently established Sunrock, a number one participant in rooftop photo voltaic in Europe, and backed Vandebron, the biggest impartial inexperienced electrical energy provider within the Netherlands.
Via its portfolio firms, together with SemperPower, Lion Storage, and J&P, Return goals to be on the forefront of creating and working large-scale battery vitality storage programs throughout Europe.
The Dutch firm raised a €100M funding spherical in late 2023, which it used to put money into partnerships with builders and again renewable initiatives.
Willem-Jan Schutte, CEO of Return, says, “This funding represents a major step ahead in our mission to change into the main flexibility supplier in Europe. We’re proud and completely happy to share that we now have began this thrilling cooperation with J&P.”
“By working along with Jens Peters and Philipp Jebens, combining experience and assets with strategically chosen challengers within the vitality market, we can drive essential vitality storage growth in Germany,” provides Schutte.
