Amsterdam-based Return, an power 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 develop its renewable power market in Germany.
What does this acquisition clear up?
Storage is the bottleneck of the power transition and poses a problem for builders and buyers by way of contributing to the European Web Zero Emissions by 2050 goal.
Collectively, Return and J&P will develop, finance, personal, and function a considerable challenge 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 tasks.
The brand new partnership will solidify Returns’ place in European power storage.
This partnership expands the Dutch firm’ present place in Munich via its fully-owned platform SemperPower.
Presently, SemperPower has over 3 Gigawatts of superior tasks beneath growth in Germany spanning a number of (forms of) grid operators.
Based by Jens Peters and Philipp Jebens, J&P has a pipeline of over 4 Gigawatt of storage tasks to speed up power storage growth all through Europe.
Philipp Jebens, Managing Director of J&P, says, ”We strongly consider within the crucial want for flexibility in Germany’s power 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 grow to be a key accomplice for high-voltage grid operators and events searching for to boost flexibility of their portfolios.”
Return: Power transition funding & construct
Return is an power 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 most important impartial inexperienced electrical energy provider within the Netherlands.
By way of its portfolio corporations, together with SemperPower, Lion Storage, and J&P, Return goals to be on the forefront of growing and working large-scale battery power storage methods throughout Europe.
The Dutch firm raised a €100M funding spherical in late 2023, which it used to spend money on partnerships with builders and again renewable tasks.
Willem-Jan Schutte, CEO of Return, says, “This funding represents a big step ahead in our mission to grow to be the main flexibility supplier in Europe. We’re proud and pleased to share that we have now 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 power market, we will drive mandatory power storage growth in Germany,” provides Schutte.
