Return invests and commits over EUR 50m in the Hamburg-based J&P to boost European energy storage
Amsterdam, 19th September – Return, a leading energy transition platform, has acquired a majority stake in Hamburg-based J&P Batterie Projekte with a €50 mln investment and commitment. The acquisition is the next step in Return’s expansion in the German renewable energy market. With a pipeline of over 4 Gigawatt of storage projects, J&P is well positioned to accelerate energy storage throughout Europe.
Storage is the bottleneck of the energy transition. The challenge presents a new frontier for developers and investors and will contribute to the European Net Zero Emissions by 2050 target. Together, Return and J&P will develop, finance, own and operate a substantial project portfolio, leveraging the experience of Return which currently operates 70 MW (150 MWh) of operational assets and 450 MW (1,700 MWh) of Ready-to-Build projects. The new partnership will solidify Returns leading position in European energy storage.
Expansion in Germany
This partnership expands Returns current position in Muninch through its fully owned platform SemperPower. Currently, SemperPower has over 3 Gigawatts of advanced projects under development in Germany spanning multiple (types of) grid operators. The collaboration between the two companies will result in a faster realization of capacity in Germany over the coming years.
Willem-Jan Schutte, CEO of Return, says: “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. By working together with Jens Peters and Philipp Jebens, combining expertise and resources with strategically chosen challengers in the energy market, we will be able to drive necessary energy storage development in Germany.”
Philipp Jebens, Managing Director of J&P: ”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.”
Focus on energy storage
Return is known for its unique combination of mission-driven entrepreneurial developers, with institutional capital, capabilities and operational expertise. The group of companies includes SemperPower, the largest Battery Energy Storage System (BESS) operator in the Netherlands with a secured pipeline exceeding 6 GW in the Netherlands and Germany, as well as Lion Storage, whose flagship Project Mufasa boasts a capacity of over 350 MW (1.4 GWh) and aims to be one of the largest BESS in the Netherlands, and Spanish-based Pausa.
About Return
Return is an energy transition invest & build platform that combines capital with the innovation power and pace of a mission-driven scale-up to build companies and projects. Return was founded by a group of optimists who are together already for more than a decade. Return has successfully established Sunrock, a leading player in rooftop solar in Europe and backed Vandebron, the largest independent green electricity supplier in the Netherlands. Through its portfolio companies, including SemperPower, Lion Storage and J&P, Return is at the forefront of developing and operating large-scale battery energy storage systems across Europe. It raised a €100M investment round in late 2023, which it used to invest in partnerships with developers and back renewable projects.
About J&P Batterie Projekte
J&P was founded by Jens Peters and Philipp Jebens who bring over 40 years of combined experience in renewable energy development and investments, including wind, solar, and BESS. With a robust pipeline of over 4 Gigawatt of storage projects and a strong team, J&P is well positioned to accelerate energy storage development throughout Europe.