Return, an energy transition investment and development platform, has acquired a majority stake in J&P Batterie Projekte, an energy storage system developer, through a €50 million (~$56 million) investment and commitment.
Return and J&P are expected to develop, finance, own, and operate a portfolio of projects, 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. J&P Batterie Projekte has over 4 GW of energy storage projects in its European pipeline.
The companies said this partnership will expand Return’s current position in Germany and the European energy storage market in 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.”
Return is involved in developing and operating large-scale battery energy storage systems throughout Europe through its portfolio, which includes companies like SemperPower, Lion Storage, and J&P. The company raised €100 million (~$108 million) in an investment round in late 2023, which it used to invest in partnerships with developers and back renewable projects.
According to Mercom’s 1H and Q2 2024 funding and M&A report for Energy Storage and Smart Grid, In the first half of 2024, there were 14 Energy Storage M&A transactions, up from eight in the first half of 2023.
Last year, EQT, a private equity firm, through its EQT Infrastructure VI fund, agreed to acquire Statera Energy, a U.K.-based battery storage and flexible generation infrastructure developer and operator from InfraRed Capital Partners. Statera has 1 GW of flexible generation in operation and under construction and a total project pipeline of over 16 GW, with plans to deliver 7.5 GW of flexibility assets by 2030.
