It reinforces Return’s commitment to supporting renewable energy developers, fostering its unique setup: a network of like-minded entrepreneurs dedicated to accelerating the global energy transition.
Following Return’s recent investment in leading utility-scale energy storage developer SemperPower, the group has also invested in Lion Storage, a developer of a 350 MW energy storage project in Zeeland, and a pipeline of over 500 MW in concrete projects throughout the Netherlands. Having already been active in Spain and the Netherlands, Return is now officially entering the German and Belgian markets. Following their expansion into Germany and Belgium, the next step will be to extend their presence to the entirety of the European market.
Hartenlust Group assumes the lead investor role with a minority share, reaffirming its confidence in Return, following a previous 100 million euros investment in Spanish solar developer Ekhi. The new 100 million euros funding will mainly be focused on project development of energy storage.
“We are exceptionally pleased with this investment in Return” said Xeno Grimmelt, Founder and Partner at Hartenlust Group. “Our past collaboration with the team of Return has been very positive, and we have great confidence in their capabilities. This investment represents a strategic blend of project development, infrastructure, and energy transition opportunities, aligning perfectly with our vision for sustainable and impactful ventures. We look forward to fostering further success together and contributing to positive advancements in these vital sectors.”
Notable backers also include reputable Dutch energy transition leaders such as Renard Investments, the family office of Stijn Vos (CEO of Enstall), and the founders of Vandebron.
The investment is pivotal for Return’s plans to expand its presence in Europe and play a central role in shaping the renewable energy landscape across the continent.
Return’s platform companies are developing a pipeline of 5 GWs energy storage projects in Europe, and 2.5 GWs solar projects in Spain, such as those with Ekhi. A highlight of these projects is a 1.2 GW hybrid green hydrogen and solar park in Europe.
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